With the whole world yet stuck in recession, China is probably the only one that is unaffected by this global trauma. With the growth rate of 8.9% in the last quarter, china’s economy is booming and is expected to improve more during the rest of the year. As stated by Mr. Xiaochao, spokesman for National Bureau of Statistics, the condition of the Chinese economy is very stable and good at the moment.
With everything going great with the Chinese economy, many experts believe that China is creating what is called a “bubble” economy, the economy that will burst for sure one day. The American economy burst happened because of them providing very easy credit. In the case of China, they are giving loans to just about everyone. From the beginning of this year till now, 1.27 trillion dollar has been given by China as loans to Americans.
The European economy is improving and seems to have come out of recession. This conclusion is based on the fact that between July and September, the economy has grown. For all the countries that use the Euro, there was a combined growth of 0.4 %. This has happened after shrinking for 0.2% between the month of April and June. The French and German economies both grew consecutively for the second quarter indicating that both of them, which also happen to be the biggest economy of the eurozone, are out of recession. But a point of concern has been that the growth hasn’t been as much as expected.
