On July 16 the State Statistics Bureau of China announced that GDP for the April-June quarter grew 7.9 percent in real terms from a year before, surpassing the 6.1 percent rate of the January-March quarter. After the Lehman Brothers shock last September, China’s annual economic growth rate — which until the first half of 2008 had been more than 10 percent — slowed with the decline of exports bound for Europe.
Yet, China’s economy has already shown signs of a strong recovery, thanks largely to the stimulus package of public spending measures worth about 4 trillion yuan (¥55 trillion).
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