China Says Economy Grew 11.5%

[OhioChick]

Source: The New York Times

Published: October 25, 2007
HONG KONG, Oct. 25 — China said today that its economy expanded at a powerful 11.5 percent pace in the third quarter, in a slight slowing from the second quarter that might help Beijing officials control inflation.

But the overall pace of China’s economic development is still strong enough to keep pushing up prices around the world for everything from oil to iron ore to freight shipping.

China’s growth rate in the third quarter, a little less rapid than the 11.9 percent surge in the second quarter, keeps the country well ahead of its two leading rivals among high-growth Asian nations, India and Vietnam.

India has had more success than China this year in taming inflation, but at the price of a steep rise in the rupee that has undermined the competitiveness of Indian exports and begun to hurt economic growth.



Read more: http://www.nytimes.com/2007/10/25/world/asia/25cnd-china.html?hp

[dubyaD40web]

1. Must be nice.

Too bad American's keep buying their lead tainted crap.

[papau]

2. Understate growth in China because they overstate inflation (opposite of US under Bush) n/t

n/t

[Javaman]

3. It will be interesting to see what happens with china when oil runs out

they could have survived 20 years ago, or perhaps even 10 years ago, but now that they have switched on the oil spigot, their fall in some ways will be equal if not worse than ours.

And people think that if we, the US, cut back on our use of fossil fuels it would make a big difference. Nope, what we don't buy, china will. Or if you haven't noticed lately, china is now the number one polluter in the world and is building roughly 2 coal powered power plants a week.

we, the world, are setting our selves up for a quick and painful death by extinction.

we had a good run. Time to hand it over to the insects.

[endarkenment]

4. Gives a whole new meaning to leading economic indicators. nt.