China growth slows to 2-year low

(Reuters) - China's economic expansion slowed in the third quarter to its weakest pace in more than two years as euro-debt strains and a sluggish U.S. economy took a toll, but healthy domestic drivers suggest little room to relax monetary policy near term. GDP grew 9.1 percent from a year earlier, the third consecutive quarterly slowdown in growth after 9.5 percent in the second quarter and 9.7 percent in the first.

In contrast, other figures on Tuesday suggested the domestic economy was growing healthily. Fixed-asset investment, the main driver of growth in world's second-biggest economy, and retail sales were stronger than expected.

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Personal note: The growth in China reminds me so much like what happened in Los Angeles back in the 1950s. I hope they can avoid the mistakes that city made and get control of pollution before pollution controls them. However, there is more going on there with their economy then meets the eye.

"The darkening world economic outlook has forced Beijing to stand pat on policy since July. It has shown some concern about the economy, announcing measures to support small firms and intervening in the stock market to prop up bank shares."

Does this look familiar?