By now the entire world is reeling from the recession that has effected everyone, in one way or another….economic growth has been dismal and recovery has been slow…..but yet there is a bright spot….China….
the UK’s Guardian is reporting:
The Chinese economy returned to double digit growth in the fourth quarter, with a jump of 10.7% year-on-year, but inflation is creeping up again amid fears of overheating.
Although the fourth quarter GDP figure was slightly below analysts’ expectations, it was the fastest for two years and a marked increase on the previous quarter’s 9.1%. It took 2009’s growth to 8.7%, outstripping the official growth target of 8%, the level some believe essential to create enough jobs to match growth in the labour force.
“China has become the first, on the whole, to achieve recovery and stabilization in its economy,” Ma Jiantang, commissioner of the National Bureau of Statistics, told a press conference in Beijing. But he said China would avoid major adjustments to economic policy given the “uncertainties” it still faces and a weak global outlook.
So, what is China doing right? In the sense that they are showing a steady growth in their economy…..
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