China Syndrome: Economy Is on the Rise

2009-07-16 | 08:21

Stimulus package leads to surge in growth

Who's following whom? Looks like China has left the global recession in the rearview mirror as its economy is expected to rise nearly 8% in the second quarter. Moreover, when measured on annualized quarter-on-quarter comparision, China's second quarter growth could be 15%.

In fact, the rebound is so fast and furious that some economists are worried that there will be a negative impact to the turnaround, such as stock market and real estate bubbles.

Still, China's gains are welcome in a world where the economy has slid for more than 18 months.

"China will be among the first countries to lead the global economy out of recession," insisted Hans Timmer, director of the World Bank's economic forecasting department.