CHINA’S ECONOMY IN 2011

NO CHINA CRISIS FOR ECONOMIC POWERHOUSE

Despite rising property prices and a festering global currency dispute, growth is set to surge

Clifford Coonan

The Irish Times, December 30, 2010

Rising inflation, surging property prices and increasingly thorny currency issues are set to dominate the agenda in China during 2011.

Beijing will be under intense pressure to stabilise prices and maintain growth in the world’s second-biggest economy.

The broader economic picture remains upbeat. Foreign direct investment leapt 38.17 per cent in November – foreign companies poured €31.3 billion into China’s services industry in the first 10 months of the year, up nearly 30 per cent on the previous year.

The wider economy is expected to have grown by 10 per cent in 2010, while unemployment is estimated to have run at just over 4 per cent.

These figures are all the more remarkable when you consider that just over 30 years ago, China’s financial health was only of interest outside the country to a handful of observers.

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