Since 1978, China's economy has doubled every eight years. Today, the
average Chinese person has some ten times the purchasing power they had just a
quarter century ago.
China was the engine room powering the Global boom of the early 21st
century, but towards the middle of 2012 there were concerns that the economy
was labouring.
However, China has reported better-than-expected trade data, adding to
optimism that growth in the world's second-largest economy may be rebounding.
Exports, a key driver of expansion, rose 14.1% in December from a year
earlier. Most analysts had forecast a figure closer to 4%.
Imports also rose, climbing 6% and indicating stronger domestic demand.
This is
particularly welcome news for many of Asia's biggest and emerging economies who
have become increasingly reliant on China as a trading partner.
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