Archive for the ‘booming’ Category

China’s Economy Growing at a Breakneck Pace

July 19, 2007

SHANGHAI, July 19 — China said today that its economy grew by at an 11.9 percent annual rate in the second quarter of this year, the fastest pace in more than a decade, reigniting fears that the economy is overheating.

The breakneck growth was fueled by a vast trade surplus, by booming retail sales and by huge investments in new factories, roads, bridges and real estate projects.

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