China’s Economy Growing at a Breakneck Pace – David Barboza

Image According to financial analysts in this article, Chinese government is facing a problem of how to tame its phenomenal . From The New York Times:

China said today that its economy grew by at an 11.9 percent annual rate in the second quarter of this year, the fastest pace in more than a decade, reigniting fears that the economy is .

The breakneck growth was fueled by a vast trade surplus, by booming retail sales and by huge investments in new factories, roads, bridges and real estate projects.

Analysts say the government in Beijing is now under mounting pressure to rein in growth, either by raising interest rates or by allowing the country’s currency, the yuan or renminbi, to appreciate further against other global currencies, which would slow the growth of exports, make imported goods more competitive and ease pressure on the economy. [Full Text]

Read also: China GDP growth jumps to 11.9 percent on the Boston Globe.

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