Not surprised by a lack of surprises

In China, the first half of every March is the time for the so-called two sessions - the annual meetings of the top legislature of the National People's Congress and the political advisers in the National Committee of the Chinese People's Political Consultative Conference.

The meetings have just begun, but the stock markets in Shanghai and Shenzhen have already showed their reactions: There won't be surprises.

The central government has set China's GDP growth target at 7 percent over last year, accompanied by mild inflation and a small increase in the overall money supply. Chinese leaders have no interest, judging from the information that has surfaced from the official press thus far, in competing with their neighbor India, which is aiming at 8 percent growth.