Monday, June 27, 2005

14.000 cars a day

The Looming New Superpower
Some forecasters worried last year that China’s boom would soon collapse and threaten the economics of Asia and perhaps the rest of the world. That didn’t happen, but concerns of Chinese overheating have persisted. The Chinese authorities have had some success in cooling growth, but not before the overall economy posted a growth rate of about 9% in the first quarter. In that quarter, despite strong consumer spending, Chinese exports were still twice the level of imports. This occurred even as capital investment slowed somewhat, commodity prices slipped, and sky-high shipping rates eased