CHINA'S ECONOMIC BOOM NOT CLOSE TO OVER
Business Spectator, February 17, 2012
Europe might be on the brink of recession and the US recovery might be slow, but China's economic boom is not over by a long shot and that's good news for Australia, analysts say.
BNP Paribas' senior Asia economist Dominic Bryant said Australia's China-driven mining boom is a multi-year phenomenon.
"It could last five to 10 years, or even longer into the future," he said.
China's economic growth will slow, but only slightly, Mr Bryant said.
China's gross domestic product (GDP) grew at an annual pace of 8.9 per cent in the December quarter of 2011 and BNP Paribas is expecting growth to stay above eight per cent for 2012.
The slowest rate of growth for China that BNP Paribas is forecasting is 7.7 per cent in the December quarter of 2013.
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