China's gross domestic product grew at a rate of 11.9% in the first quarter of 2010, compared to the same period a year before. HSBC predicts that the China's GDP would grow by a 11% this year.
Thats a bit too fast going by even's China's standard. The massive govt stimulus has sparked a rise in inflation. There is a property bubble building up in the real estate market. The prices in the housing market have risen by 11% compared to last year. Several economists are predicting a bubble burst soon. I hope China learns from the mistake of US and reins in the prices, otherwise the mortgage crises in China would be inevitable.
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