From Bloomberg News:
Of all the questions facing Asia in 2007, none looms larger than what to expect from China.
The last 12 months proved more than ever how much Asia is relying on its second-biggest economy. Japan may be back and the U.S. economy is by far the world’s largest, yet China’s 10 percent growth is increasingly underpinning Asia’s hopes.
China isn’t likely to slide into crisis in 2007, though the number of issues that may come to a head is daunting. On the one hand, China needs to create millions of jobs to spread the benefits of rapid growth. On the other, it must slow things down to avoid overheating — something it didn’t do in 2006.[Full Text]
