China’s economic growth slows
The National Bureau of Statistics reports that the Chinese economy grew at an annual pace of 8.9 percent in the fourth quarter, marking a slowdown from a 9.1 percent growth rate in the prior quarter, CNNMoney reported.
The slower growth came as exports slumped and government restraints took some steam out of the booming real estate market. For the last 30 years, China, the world’s second-largest economy, has grown at an average annual rate of about 10 percent.
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