China growth reaches 13-year high
Building and infrastructure projects are fuelling economic growthThe Chinese economy has expanded by 11.4% over the past year, reaching its fastest growth rate in 13 years, officials have announced.
Increased exports and a boom in the construction industry helped the rapid expansion during 2007.
But officials warned that overheating remained a danger, despite a slight slow-down in the fourth quarter.
Inflation is also a serious concern, with many Chinese people hit by recent dramatic increases in food prices.
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The Chinese economy has boomed over 11 percent, hitting a high for the last 13 years. It is yet to be determined if China has passed Germany as the 3rd largest economy, however, inflation is still a problem. So watch out America, because the infection of cheap Chinese goods will probably become worse. And so will your company.
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