China's Growth

The latest figures show that China's Gross Domestic Product rose 10.7%.Apartment sales in Beijing support this data,with people signing up to reserve unbuilt units.China's 580 billion dollar stimulus program is judged to have been the most effective in the world,with the spending concentrated on advanced infrastructure.China is on track to overtake Japan as the world's second-largest economy,behind the United States.Nonetheless,Chinese earnings are only a fraction of the West's.More than 150 million Chinese earn a dollar a day.
The International Monetary Fund has just raised its global growth forecast for 2010 by 0.8% to 3.9%.The U.S. is projected to grow 2.7%.The IMF says that the global financial system remains fragile.Fiscal policies need to remain supportive.