Life in the global gutter: The popular press


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European debt crisis: 29 November 2011

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As China Rolls Ahead, Fear Follows

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As China Rolls Ahead, Fear Follows - China kept economy growing in past couple of years by printing money. Now it's feeling consequences. Inflation in consumer prices, speculative bubble in property. Milk dearer in Shanghai than in New York Agence France-Presse — Getty Images China is looking to restructure its economy away from dependence on exports like textiles. For nearly two years, China’s turbocharged economy has raced ahead with the aid of a huge government stimulus program and aggressive lending by state-run banks. But a growing number of economists now worry that China — the world’s fastest growing economy and a pillar of strength during the global financial crisis — could be stalled next year by soaring inflation, mounting government debt and asset bubbles. Two credit ratings agencies, Moody’s and Fitch Ratings , say China is still poised for growth, yet they have also recently warned about hidden risks in its banking system. Fitch even hinted at the ...
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