Posted on 2007-08-05 10:20
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[BBC新聞聽寫] 新數據顯示中國經濟以極高速度增長
New figures on the Chinese economy suggest it’s expanding at break-neck speed, defying official efforts to tame it. It grew by 11.1% in the first quarter of this year, one of the world’s highest rates and unheard of the long larger economies. The Chinese Prime Minister Wen Jiabao said the government needed to take steps to stop the economy overheating. Here is our economics correspondent Andrew Walker.
China’s two and a half decades of strong economic growth have produced some real benefits. The proportion of the population in poverty has fallen dramatically, but it really is possible for an economy to grow too quickly? The rapid growth in China has been driven in large part by very high rates of investment in new factories and offices. Investment is a central part of the growth process, but if it’s excessive, there can be an increased risk of many investments failing commercially. That can lead to factory closures, lost jobs, and problems for the banks that lend the money to finance the investment.