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Teaching teens about finance

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MEMPHIS, Tenn. -- If you're worried about China's financial strength now, just wait a generation.

That country ranks first in the world for money management skills among teenagers.

Meanwhile, American teens are failing at finance according to a new global survey that assesses teenagers' understanding of bank accounts, credit cards, taxes, savings and contracts.

They're in the middle of the pack, between Latvia and Russia.

The organization "Youth About Business" is working to turn those numbers around here in Memphis.