Just days after John Rutherford, chairman and CEO of Moody’s, preached his views on the need for financial reform in China, S&Ps has released its own verdict on the state of the world’s most vigorous economy.
Strong growth in China’s industrial sector backed by export figures, robust consumer demand and high government spending have led to expectations that China’s economy will grow more than 10% in the second half of 2003. China’s excess capacity and labour supply, according to S&Ps, are the reason why the economy has not succumbed to inflationary pressure.
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