CHINA REPORTS FASTEST GROWTH IN YEARS

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CHINA REPORTS FASTEST GROWTH IN YEARS

 user 2006-07-18 at 11:24:00 am Views: 67
  • #16175

    China Reports Fastest Growth in Years
    BEIJING
    July 06 – China reports that its economy grew a blistering
    eleven-point-three percent in the second quarter from a year
    earlier.The fastest growth rate in a decade is spurring speculation
    that Beijing could raise interest rates to cool the
    expansion.Authorities fear that the sizzling growth could ignite
    inflation, which remained a mild one-point-three percent in the first
    half.Beijing is also worried that frenzied construction of housing,
    factories and shopping malls could create a supply glut, even
    triggering a financial crisis if developers default on loans.Despite
    attempts to slow growth, including a rate hike in April and curbs on
    investment in new factories and other assets, China’s economy
    accelerated from the first quarter.