China is enduring the sort of problems other countries can only dream of. Like everywhere else, GDP has been a tad disappointing of late – but that means a growth rate of 8.9%, according to figures released this week, rather than 9.1%. (By way of comparison, Britain's final-quarter output figures are out in a few days and could well record growth that disappears in the margin of error, or even show flat-out shrinkage.) Exports are rather under par, too: Beijing estimates the trade surplus dropped to about $160bn (Britain runs a persistent trade deficit). And the big worry is whether Beijing can check overheating to engineer a "soft landing" – as opposed to the crash that hit the west in 2008, whose tremors are still being felt.
Read Full Article »
