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China's economic growth slows amid credit curbs
By JOE McDONALD (AP) ? 14 hours ago
BEIJING ? China's rapid growth is slowing as its huge stimulus winds down and Beijing cools a credit boom, possibly weakening a global recovery.
The world's third-largest economy expanded by 10.3 percent in the second quarter over a year earlier, down from the first quarter's explosive 11.9 percent growth, the National Bureau of Statistics said Thursday.
China's ability to help drive a global recovery might be dented if slower growth cuts its appetite for U.S. and European factory machinery, industrial components from Asian suppliers and iron ore from Australia and Brazil.
"The speed of economic growth is declining fast," said economist Xing Ziqiang of China International Capital Corp. in Beijing. "Countries that export raw materials to China will feel a bigger impact from declining investment."
more....
http://www.google.com/hostednews/ap/article/ALeqM5j1FZRNA_nf7XY7YePH-Od-tdunFAD9GVE7MG0
By JOE McDONALD (AP) ? 14 hours ago
BEIJING ? China's rapid growth is slowing as its huge stimulus winds down and Beijing cools a credit boom, possibly weakening a global recovery.
The world's third-largest economy expanded by 10.3 percent in the second quarter over a year earlier, down from the first quarter's explosive 11.9 percent growth, the National Bureau of Statistics said Thursday.
China's ability to help drive a global recovery might be dented if slower growth cuts its appetite for U.S. and European factory machinery, industrial components from Asian suppliers and iron ore from Australia and Brazil.
"The speed of economic growth is declining fast," said economist Xing Ziqiang of China International Capital Corp. in Beijing. "Countries that export raw materials to China will feel a bigger impact from declining investment."
more....
http://www.google.com/hostednews/ap/article/ALeqM5j1FZRNA_nf7XY7YePH-Od-tdunFAD9GVE7MG0