China Growth Suggests Economy on the Mend |
| BusinessWeek - Oct 18, 2012 |
Has China’s economy bottomed out?
Economists and analysts are posing that question following the Oct. 18 announcement that gross domestic product grew 7.4 percent in the third quarter, from a year earlier, down from 7.6 percent growth in the previous three months. China’s economic growth has started to stabilize, Premier Wen Jiabao said in a recent meeting with heads of Chinese companies, industrial leaders, and local government officials, the Xinhua News Agency reported on Oct. 17. The economy will continue to show “positive changes,” Wen said. He has set a target of 7.5 percent growth for the year.
With continued weakness in Europe and North America, “what we see is a good performance. It augurs well for continued soft landing,” John Quelch, professor of international management and dean of China Europe International Business School in Shanghai, said in a telephone interview after China’s statistics bureau released the latest growth figure.
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- Posted: 2012-10-21 00:04:14
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