Did you see that China's 4th QTR GDP grew at a 6.8% clip?
Now, compared to the plus 10% growth rates China was posting for the past few years, 6.8% looks pretty measly... But! Let's look around the world right now and see who has a GDP that even compares?
Well, that roster would be pretty small... In fact, I can't think of anyone other than China that has GDP of 6.8%!
This 4th QTR drop puts the annual growth rate in China for 2008 at 9%... Again... you'll have to show me a country, other than China that posts a figure that strong!
In the whole scheme of things, this is pretty significant for China though. And all the reason I believe the Chinese officials will continue the slow appreciation of the renminbi... This is going to put a lot of people, investors, traders, into a lull regarding renminbi, as everything around the world slows down... But in China, inflation is still a problem, and that can be dealt with by allowing the renminbi to continue its slow appreciation...