China's Economy is Heating Back Up
Filed in archive News on January 23, 2010
© Emile Bremmer
Chna made economic news this past week by announcing that its gross domestic product grew 10.7% in the fourth quarter of 2009, and that as far as China was concerned the recession was now over. The Chinese are more worried about inflation than recession and they plan to take steps to bring their growth under control.
Growth had been projected at around 9% for the quarter. So the growth rate of almost 11% was a bit of a surprise. Many analysis are now concerned that if the Chinese government takes steps to slow the growth of its economy, the grobal recession will drag out longer.
At the moment China is the third largest economy in the world - behind the US and Japan. But if growth continues at the current pace, China could pass Japan and take second place before the year is out.
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Tags: china, economic growth, japan china economy+heating china+economy heating+back
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