China 'Recovers' From Global Slump

[tekisui]

Source: Al Jazeera

China has declared itself the first major economy to recover from the global economic downturn as data showed economic growth accelerated to 10.7 per cent in the final quarter of 2009.

GDP for the whole year totaled 8.7 per cent according to government figures released on Thursday, easily beating targets.

However, the raft of data released by the National Bureau of Statistics also showed inflation picking up, adding to pressure on the government to prevent overheating in the economy.

"China has become the first, on the whole, to achieve recovery and stabilisation in its economy," Ma Jiantang, the bureau's commissioner, told reporters in Beijing.

But he added that in the face of ongoing "uncertainties" and a weak global outlook, the government would avoid major changes in economic policy.

The figures put China's total gross domestic output for 2009 at $4.9 trillion, bringing it closer to overtaking Japan as the world's number two economy after the US.

more: http://english.aljazeera.net/business/2010/01/20101214573920952.html

[zbdent]

1. Oh goody! That means Wal-Mart will have more products available!

:silly:

[Mixopterus]

2. Alright!

The inevitable global resource/trade war is going to be totally sweet. Can't wait, five stars, etc.

[endless october]

3. cool, more slave labor made goods to buy at Walmart

and continued borrowing from China until the debt kills us.

we put a halt to the trade imbalance, or we pay the price.