GDP grew 11.4% ! ! ! !

[TexasDevilDog]

China thanks you for every purchase and is looking forward to the tax rebate to be able to sell more goods to Americans.

China's 2007 gross domestic product expanded by 11.4 percent, according to data released Thursday by the National Bureau of Statistics, the fastest rate since a 13.1 percent increase in 1994. GDP was 11.1 percent in 2006.

China is likely to overtake Germany as the world's third-largest economy this year as its GDP grew to 24.6619 trillion yuan. China accounted for 17 percent of global growth, according to United Nations estimates. http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20080123%5cACQRTT200801232342 RTTRADERUSEQUITY_1688.htm&

[01WhiteCobra]

What kills me is their exports suck. I cannot think of one item I own that has "made in China" on it that didn't last more than a year or contain some date-rape drug in one of my daughter's toys.

[TexasDevilDog]

What kills me is their exports suck. I cannot think of one item I own that has "made in China" on it that didn't last more than a year or contain some date-rape drug in one of my daughter's toys.

That's because you are not the typical walmart shopper. Think macro, not micro. ;)

[Mustangman_2000]

It's amazing that after all of the bad products and recalls from Chinese imports that they keep saturating our markets with impunity.

Makes me hate places like WalMart.

[Yale]

Makes me hate places like WalMart.

Makes me think I should've put my whole first year's pay (1997) into WM stock.

[AL P]

I'm more interested in what rate wages grew in China.

[TexasDevilDog]

I'm more interested in what rate wages grew in China.

Ask and receive.

Editor:Angel K. Yan
Source:лªÍø
Updated: 2008-1-24 17:19:40

¡¡¡¡BEIJING, Jan. 24 (Xinhua) -- Chinese urban residentsaverageannual per capita disposable income jumped 17.2 percent to13,786yuan in 2007, said the National Bureau of Statistics (NBS)onThursday.

¡¡¡¡Taking into account price hikes, the actual growth was12.2percent, which is still 1.8 percentage points higher thanthegrowth rate in 2006.

¡¡¡¡The per capita net income of rural residents reached 4,140yuan,or 15.4 percent higher than the previous year.Theinflation-adjusted growth rate is 9.5 percent, up 2.1percentagepoints.
http://news.rednet.cn/c/2008/01/24/1428016.htm

As the economy grows and business have more activity they use up more and more of the scarce resources, labor being one of those. As more people are employed, that raise competition for labor. As more people are working, they have more to spend, they consume more, and businesses need to produce more.

China will over take Germany this year as the 3rd largest economy. I would expect China to over take Japan in the 5-7 years. If they keep making their economy more capitalistic, I see China being the biggest economy within 20 years.

Oh, and india is growing almost as fast.

[Big Pencil]

And, they're all now driving Buicks instead of riding bicycles, and using up all our damn gas!

lol.