October 15th 2008 – the New York bank Merrill Lynch foresees strong growth in China despite banking troubles in the West. Because banks in China are largely controlled by the government, they stayed out of the sub-prime mortgage business that is destroying banks in the West. China will not be able to sell as much overseas as before, but there is enough demand within the country to keep growth at 8% or 9% a year. Not as fast as in past years, but still a strong rate of growth.
More.
