China's GDP falls to two-year low

[westtowel]

BEIJING: China's GDP expanded by 9.1 percent year-on-year in the third quarter of 2011, marking the slowest pace since the third quarter of 2009, the National Bureau of Statistics (NBS) said Tuesday.

The growth rate was down from 9.5 percent in the second quarter of this year and 9.7 percent in the first quarter, China Daily reported quoting the NBS.

The slowdown was a desired outcome of China's macro-economic regulations as the government continued its efforts to curb soaring property prices and rein in inflation, said Lian Ping, chief economist with the Bank of Communications.

China's economy expanded by 2.3 percent on a quarterly basis in the July-September period, NBS spokesman Sheng Laiyun said at a press conference.

According to preliminary statistics, the country's GDP reached 32.07 trillion yuan ($5.01 trillion) in the first nine months, up 9.4 percent year-on-year, Sheng said.

He noted the country's economic performance was "generally good" and had developed according to macro-economic regulations in the first nine months.

Despite challenges and uncertainties both at home and abroad, it is likely that China's economy would maintain its stable and relatively fast growth in the coming period, boosted by a strong growth momentum, the newspaper quoted Sheng as saying.

http://timesofindia.indiatimes.com/business/international-business/Chinas-GDP-falls-to-two-year-low/articleshow/10416454.cms

 

[JayAtl]

Its still a whopping 9.1% still....if and thats a big IF one trusts any numbers coming out of bejing.

 

[jdme]

And? How is this even world affairs?

 

[T90TankGuy]

its just the world markets . they are down at the moment . we too are feeling the effects.

 

[applesauce]

geeze 9.1..... still fastest of the large economies

GDP Growth Rates, List by Country

 

[Chinese-Dragon]

According to the Moody's ratings agency:

India’s economy is likely to grow at 6.5% by mid-2012 from a growth of 7.8% year on year (YoY) in the first half of 2011, predicts Moody’s Analytics, a division of the global rating agency Moody’s. The agency is calling the engineering of a monetary policy led slowdown to fight inflation as a ‘failure’.

Inflation has been identified as the main problem with the wholesale price index registering a 9.7% annual growth in September 2011.

India slowing down sharply: Moody

Hahaha, and you guys are laughing at a 9.1% growth rate, for an economy that is already four times larger than the Indian economy.

 

[JustForFun]

Wrong tread title.
Should be: China's GDP GROWTH falls to two-year-low.

 

[JayAtl]

According to the Moody's ratings agency:



India slowing down sharply: Moody

Hahaha, and you guys are laughing at a 9.1% growth rate, for an economy that is already four times larger than the Indian economy.

Whats the point of bringing in India's GDP into an article that was not authored as an opinion by one? That would be like me saying - We are 4 x of your GDP and a kid at Mcdonalds earn more than your factory workers in a given day.

You had several indians, including an american ( me) saying its still an impressive growth rate. why could you not take lead from that and not TROLL? well I guess you have a reputation to uphold here.

 

[Chinese-Dragon]

I just find it ironic that Indians have been predicting the downfall of the Chinese economy for almost a decade now. Just check any of the old posts in Indian forums, and you will have threads with timestamps from 5+ years ago, about how China is "just about to collapse".

It looks their gleeful predictions backfired on them. From the data, India's growth engine is already slowing down, even though they never even managed to sustain double-digit growth in the first place. The double-digit growth race never even materialized to begin with!

 

[Chinese-Dragon]

And? How is this even world affairs?

When has that ever stopped any Indian member from starting a thread to bash China?

 

[great]

It just goes to show Chinese have also become paranoid of India in this forum. But hey its amusing.

 

[Birbal]

What the hell? Times of India seriously need to work on their article titles. That's beyond ridiculous. They can't tell the difference between GDP growth rate and GDP.