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Why doing business with the dragon is a Chinese puzzle' {% a+ J* `6 \2 w+ F3 O9 \( i$ u5 e4 M" \
- Y1 y9 R- v% T& N( K 8 M; `9 L' P" t& tBarclays' chief executive, John Varley, is not the sort to bang back a few lagers at lunchtime. But who could blame him for sinking a Tsingtao beer with his chow mein and chips, after the deal he has just done with the Chinese?) \/ a) ?& f4 Y, ~ }; B$ [
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By securing an investment of up to £6.6bn from the state-owned China Development Bank (CDB), Varley has boosted Barclays' chances in its battle with Royal Bank of Scotland to buy the Dutch bank, ABN Amro.$ S% a; q5 {/ r' r
, P: E; \7 e1 j: Q2 O7 vFar more significant, however, is the long-term "guanxi" (relationship) that Barclays has established with the world's powerhouse of growth. 7 [, B6 C( ?* I4 _/ b$ H3 s7 |, J) j b( f6 J; F1 j
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