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By Linda Sieg and Elaine Lies TOKYO (Reuters) - U.S. President Barack Obama has said Washington welcomes China's rise but that engagement with Beijing would not come at the expense of its Asian allies - as Chinese state media greeted his arrival in the region with a broadside accusing the United States of wanting to "cage" the emerging superpower. The reassuring remarks aimed at Japan and other allies, set against a robust commentary from China's state news agency Xinhua that also called the United States "myopic", demonstrate the delicate balancing act Obama faces on a week-long Asia tour. Obama arrived in Tokyo on Wednesday at the start of a four-nation trip that comes at a time of rising tension in the region, and as the United States urges Japan's unpredictable neighbor North Korea not to conduct another nuclear test.
Britain's economic recovery is gaining momentum but Bank of England policymakers held different views about the amount of slack in the economy and the medium-term inflation outlook, minutes from their April 9 meeting showed. The Bank expects the economy grew by 1 percent in the first three months of this year from the fourth quarter of 2013, up slightly from a previous growth forecast of 0.9 percent, the minutes showed. Economists at the Bank expected a slight slowdown in the April-June period. Members of the Monetary Policy Committee also thought it was "possible" that a sustainable rise in real wages, consistent with a durable recovery, was on the way.