Facts - Thursday, 16 July 2009
When China Strikes Back...
Economy in China Regains Robust Pace of Growth (The New York Times), China GDP grows 7.1% in first half '09 (China Daily), Beijing keeps foot on accelerator (Financial Times ), My way is right way to solve banking crisis, says Gordon Brown(The Guardian)
Economy in China Regains Robust Pace of Growth (The New York Times - U.S.)
Fueled by an ambitious economic stimulus program and aggressive bank lending, China's economy grew by 7.9 percent in the second quarter of this year, the government said Thursday, a surprisingly strong showing given the world economic crisis. The gross domestic product figures, released Thursday morning in Beijing by the National Statistics Bureau, are also surprising given how China's exports have declined sharply after years of torrid growth. (...)
China GDP grows 7.1% in first half '09 (China Daily - China)
The gross domestic product (GDP) grew 7.1 percent from the same period a year ago to 13.99 trillion yuan (US$2.06 trillion) in the first half, as massive government spending and record lending helped the economy rebound from the worst growth in a decade. Chinese economy expanded 7.9 percent year on year in the second quarter, said Li Xiaochao, spokesperson with the National Bureau of Statistics (NBS) at a press conference.(...)
Beijing keeps foot on accelerator (Financial Times - U.K.)
While the rest of the world anxiously seeks the green shoots of recovery, China's business landscape is already looking thickly forested with the essentials of a thriving industrial economy.(...)
My way is right way to solve banking crisis, says Gordon Brown (The Guardian - U.K.
Gordon Brown today defended his response to the banking crisis and insisted Britain had set a model for the rest of the world to copy. The prime minister dismissed suggestions that he should have scrapped the "tripartite" regulatory system that sees responsibility shared between the Treasury, the Bank of England and the Financial Services Authority or required banks to split their retail and "casino" activities.
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