China’s economic growth rate slows

A weakeningUSeconomic recovery and the incessant debt crisis of the EU have taken a toll on the Chinese economy as demand for Chinese goods has gone down. The country’s growth rate in the third quarter was 7.4%, a decrease from 7.6% in prior months. IHS Global Insight director Tony Nash has predicted that there is not “going to be a dramatic bounce back inChina’s economy.” However; there are indications that whileChina’s growth is slowing down, it is stabilizing.Chinahas reported that its exports grew 9.9% in September, a significant jump from 2.7% in the month before. “We have seen the bottom [for]the economy,” said Dong Tao, chief economist for non-Japan Asia at Credit Suisse First Boston stockbroker and investment bank, “with rebounding property markets, stabilizing export orders and resuming consumption.”