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07/17/09 7:15 AM

#57906 RE: Captskip #57905


China's Economic Recovery Gathers Steam TIME Magazine
By Bill Powell / Shanghai Thursday, Jul. 16, 2009

"Imports of semifinished industrial metals in the quarter soared by more than 35%, as China's stimulus-driven infrastructure build-out gathered steam. Overall fixed-asset investment picked up 33.5% year over year, a pace that recalled the country's glory years of double-digit economic expansion. (See pictures of life on the fringes of the People's Republic.)

Much of that investment growth came from the brute force of the government, which is directing bank loans to state-owned companies, which in turn have been building everything from high-speed rail networks to new highways and bridges across China. But economists were quick to note that other sectors of the economy besides construction now seem to be joining the party."

Link to article: http://www.time.com/time/world/article/0,8599,1910875,00.html?xid=rss-topstories