Strong income growth
China Daily | Updated: 2011-10-19 07:55
THE STEADY SLOWDOWN OF THE WORLD'S SECOND largest economy may disappoint those who are hoping it will be the driving force for the global economy, which is teetering on the edge of a double-dip recession.
Latest statistics show that the Chinese economy expanded 9.1 percent year-on-year in the third quarter of the year, the slowest pace since the third quarter of 2009.
However, remarkable income growth indicates that the Chinese economy is not losing steam. Instead, it is making needed progress in stimulating consumer-led growth.
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