Economy still in shape despite recent slowdown
By Wang Xu | China Daily | Updated: 2008-09-27 09:20
It's too soon for government measures to spur the economy, with momentum likely to remain strong despite the recent slowdown, economists said.
The economy has grown at an average 10.8 percent over the past five years, making it the fastest growing economy in the world. But a tight monetary policy and the worse-than-expected global slowdown have put the brakes on growth after it peaked at 11.9 percent in the second quarter last year.
The country's GDP growth slowed to 10.8 percent in the second quarter, compared with 11.9 percent for 2007. Meanwhile, external demand, a key driver of China's economic expansion, is likely to dry up further. Some analysts have warned there is risk of recession and called for more stimulus packages.
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