China Reports Fastest Growth in a Decade

Yahoo! News – China reported its fastest economic growth in a decade on Tuesday and warned that booming construction and bank loans could fuel inflation, raising expectations that Beijing might nudge up interest rates and possibly the value of its currency.

The 11.3 percent growth in the second quarter compared with a year ago exceeded forecasts. It came despite government efforts to cool off the sizzling economy by increasing borrowing costs and curbing investments after first-quarter growth hit an already strong 10.3 percent.
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