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Since China replaced the United States in 2013 as the world's largest net oil importer, falling oil prices have benefited economic development.
The Bank of America Merrill Lynch said that for every 10 percent fall in the price of oil China's GDP growth would be boosted by around 0.15 percentage points, lower consumer inflation by around 0.25 percentage points and would improve the current account balance by 0.2 percent of GDP.
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