China’s economic growth plunges to annual 6.8% rate in fourth quarter of 2008
Jan 22nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
China's government said today that the economy grew 6.8 percent from a year earlier in the fourth quarter of 2008, confirming a dramatic downturn that has slashed growth in the world's third largest economy nearly in half, in just a single year. The official target of 8% in 2009, is viewed as a minimum to avert widespread social disorder as migrants from rural provinces are forced to return home with dreams of rising out of poverty shattered.