China: Aiming for 8% Growth despite the Financial Crisis
Min-Chan, Pyo, SERI Quarterly
China's National Bureau of Statistics reported 9% economic growth in 2008. The quarterly figures came in at 10.6% in the first quarter, 10.1% in the second, 9% in the third, and 6.8% in the final quarter of 2008. Having recorded double-digit growth rates for five consecutive years since 2003, the recent downward trend is clear indication of an economic slowdown. Experts consider this China's greatest crisis since its reform 30 years ago.
Lower consumer confidence in developed countries, due to the recent global financial crisis, has caused a significant reduction in China's exports. Once considered the world's factory, China has been suffering from negative export growth since …
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Publication information:
Article title: China: Aiming for 8% Growth despite the Financial Crisis.
Contributors: Min-Chan, Pyo - Author.
Magazine title: SERI Quarterly.
Volume: 2.
Issue: 2
Publication date: April 2009.
Page number: 43+.
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