The Chinese Economy grew 11.5 percent from July-September in 2007, slowing down slightly from it's 11.9% growth in the second quarter of 2007. Though this growth is still phenomenal, economists are claiming that this slight slow down indicates that growth has already peaked for this business cycle. However, most expect China to maintain a growth rate of greater than 10% for at least the next year, and is expected to surpass Germany as the third largest economy by mid 2008. In 2006, China reported a GDP of $2.7 billion, while Germany came in at $3 billion.
Economists view this slight slowdown as a good indicator, as they hope to curb overinvestment and inflation. The PRC's Central Bank has increased interest rates five times in a row, hoping to help stop overinvestment and reduce any risk of a large recession.
Read more here: http://www.businessweek.com/ap/financialnews/D8SG98LO0.htm
No comments:
Post a Comment