A long-standing effort to make big investment funds abide by the same rules that banks and brokerages follow has bogged down. The fund industry says it supports the rules — it just has a few quibbles.
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“What we need instead is a sober analysis of the structural conditions, restrictive as wellas conducive, and of the realistically possible organizationalforms for a Europe capable of keeping its distance from bothChina and the USA, […]

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