Hot Chinese economy ploughs on
While the giant economies of Europe and the US flounder, and Japan seems stuck in recession, China is flourishing. A growth of seven or even eight percent a year is not unusual in the world's most populous nation, though along with the growth has come a host of social problems.The Chinese economy has been steaming ahead, faring much better in terms of growth than the once-booming US economy. Of course, this doesn't mean China measures up to the US when it comes to GDP � it is still ten times smaller � and it will take another 20 to 30 years before it can match the number one economy in the world. But China, with its 1.3 billion inhabitants, has huge potential, low labour costs, and its market is now easy to enter for foreign investors.
Wendy Braacker at Radio Netherlands 02/20/03
