From BusinessWeek Online: “Beijing won’t be doing much to tame the nation’s sizzling growth, much as the G7 nations preparing to meet in London wish otherwise
It was a shocker, all right. On Jan. 25 the Chinese government announced its latest economic growth figures. Turns out that the irrepressible Chinese economy grew at an astounding 9.5% annual rate in the fourth quarter of 2004, as well as for the whole year. That’s the most vigorous growth since 1997, well above most economists’ predictions. So much for Beijing’s effort to damp down what many see as an out-of-control expansion that could lead to a hard landing and global recession.”
