China's Economy: Some Reason for Hope
The economic news from China looks anything but encouraging these days. The export slump is deepening, corporate earnings in the third quarter fell 13% from a year earlier, while industrial output growth has hit a seven-year low and cash-flow problems are plaguing airlines, manufacturers, and beleaguered property companies. The latest evidence of a slowdown: China's auto sales fell 10% in November from a year earlier.
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