Today's Daily Digit : 7.9 That's the percentage China's economy grew in the fourth quarter of last year And it shows growth ...
is powering ahead after slowing for seven straight quarters. Adrian Mowat, J.P. Morgan.
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Today's Daily Digit : 7.9 That's the percentage China's economy grew in the fourth quarter of last year And it shows growth is powering ahead after slowing for seven straight quarters. Adrian Mowat, J.P. Morgan. (SOUNDBITE) (English) CHIEF ASIAN & EMERGING MARKETS STRATEGIST, J.P. MORGAN, ADRIAN MOWAT, SAYING: "There's definitely a cyclical pickup going on in China. The stimulus for that appears to have been the dramatic change in monetary policy or monetary conditions that occurred in the second half." (SOUNDBITE) (English) REUTERS REPORTER, TARA JOSEPH, SAYING: "China's economy looks like a steam train compared to tepid growth in Europe and the United States. Still overall growth in 2012 was the slowest in 13 years." Rebalancing the country's dependence on cheap exports and boosting growth driven by domestic consumption remains a challenge. Gary Dugan of Coutts. (SOUNDBITE) (English) CIO FOR ASIA & MIDDLE EAST, COUTTS, GARY DUGAN, SAYING: "I think there are some good signs here for re-balancing. Firstly the investment spending growth rate is coming largely in line with expectations. But the retail sales numbers, at over 15% growth, are marginally ahead of expectations." Keeping the economy ticking may also require more easing measures. But with China's new leaders taking the reins of power early this spring they'll have to be watchful for a fresh bout of inflation, especially rising food prices. A property bubble in major cities - where developers are speeding ahead - could also upset the dreams of China's growing middle class.