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Article: China surpasses United States as engine of global economic growth, study shows.
- Article from:
- The Washington Times (Washington, DC)
- Article date:
- July 26, 2007
CopyrightCOPYRIGHT 2007 The Washington Times. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Patrice Hill
Jul. 26--China, this year for the first time, has dislodged the United States from its long reign as the main engine of global economic growth, with its more than 11 percent growth eclipsing sputtering U.S. growth of about 2 percent, according to the International Monetary Fund 2007 projections, released yesterday.
China's growth, which has been fueled by booming domestic building and commercial development as well as soaring exports, has accelerated even as U.S. growth dropped to 0.7 percent in the first quarter under the weight of a profound housing recession. China is expected to drive a hearty 5.2 percent expansion of the global ...