China Slowing, But Still Growing

The Chinese economy grew at a 6.1 percent rate in the first quarter. That would be great by American standards, but it’s slightly less than the 6.8 percent they managed in Q4 of 2008 and it’s quite poor by recent Chinese standards. Apparently China needs to maintain growth of at least 8 percent in order to prevent unemployment from rising, so their ability to maintain growth hardly indicates immunity from the recession.