Daily Revolt

July 19, 2007

China's Economy Expands 11.9% in Second Quarter

This is why our food supply is endangered. Its all about the profits. China's economy has been booming for years as the multi-national corporations have outsourced to that country. With very few environmental safeguards, cheap or enslaved labor, and with no unions, China is a paradise for big business:
The pace of China's economic growth accelerated to 11.9% in the most recent quarter, rapid even by Chinese standards, with economists now divided about whether authorities will move to rein in the economy.

Before too long they will overtake the United States:
Even if China's pace of economic growth cools slightly in the second half, as many economists expect, it should overtake Germany as the world's third-largest economy by dollar value before year's end, trailing only the U.S. and Japan.

Analysts said the second-quarter expansion was driven by stronger-than-expected investment in factories and infrastructure, while surging exports, up 28% in the year through June, also propelled momentum.

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