HSmomto4
July 16th, 2008, 11:10 PM
China's Economic Growth Cools to Slowest Since 2005
July 17 (Bloomberg) -- China's economic expansion cooled to the slowest pace since 2005, handing more ammunition to Chinese officials calling for reduced gains by the yuan as the outlook for exports dims.
Gross domestic product grew 10.1 percent in the second quarter from a year earlier, down from 10.6 percent in the first, the statistics bureau said today in Beijing. Consumer prices rose 7.1 percent in June, slowing from 7.7 percent in May.
China's leaders are under pressure to switch from fighting inflation to protecting exporters by slowing the yuan's appreciation after its 7.1 percent increase against the dollar this year. The Ministry of Commerce has urged China's cabinet, the State Council, to rein in currency gains and increase some export rebates, a ministry official said July 14, speaking on condition of anonymity.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQLF4v3DSY2Q&refer=home
July 17 (Bloomberg) -- China's economic expansion cooled to the slowest pace since 2005, handing more ammunition to Chinese officials calling for reduced gains by the yuan as the outlook for exports dims.
Gross domestic product grew 10.1 percent in the second quarter from a year earlier, down from 10.6 percent in the first, the statistics bureau said today in Beijing. Consumer prices rose 7.1 percent in June, slowing from 7.7 percent in May.
China's leaders are under pressure to switch from fighting inflation to protecting exporters by slowing the yuan's appreciation after its 7.1 percent increase against the dollar this year. The Ministry of Commerce has urged China's cabinet, the State Council, to rein in currency gains and increase some export rebates, a ministry official said July 14, speaking on condition of anonymity.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQLF4v3DSY2Q&refer=home