China’s economy grew 9.6 percent in the third quarter and inflation accelerated to the fastest pace in almost two years, adding weight to calls for the engine of the global recovery to let its currency appreciate more rapidly.
China’s exports may slide from year- earlier levels in coming months, providing justification for the government to rein in gains by the yuan against the dollar, according to Royal Bank of Scotland Plc.
Yu Jiang looks into the front window at his two-bedroom apartment in the center of Kangbashi, in China’s Inner Mongolia, and says he may buy another. The place has been empty for three years, as are as many as 90 percent of the units near it.
China’s central bank will likely hold off from adding to this week’s interest-rate increase until 2011, when it will raise borrowing costs at least twice to tame inflation, according to economists surveyed by Bloomberg.