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Response to Tansy_Gold (Original post)

Tue Jan 17, 2012, 06:05 AM

15. Chinese growth gives markets a boost

http://hosted.ap.org/dynamic/stories/W/WORLD_MARKETS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2012-01-17-05-46-07

LONDON (AP) -- Robust growth in China helped stock markets rally strongly Tuesday as investor fears of an abrupt slowdown in the world's second-largest economy were eased.

With Europe seemingly heading back into recession and the U.S. still to convince that it's economy is improving, China is important to shore up the global economy as well as sentiment, especially at a time when many investors are openly fretting about a potentially-devasting Greek debt default that could prompt further turmoil in financial markets.

Government figures showed that the slowdown in Chinese growth in the final quarter of 2011 was not as big as had been feared. Though the drop to 8.9 percent represented the lowest rate in two and a half years, the markets had been expecting a bigger decline to 8.7 percent.

"Equity markets are giving a positive reception to the latest set of Chinese economic data which shows that the economy is managing to avoid a hard landing despite background concerns of local government debt and banks' loan exposure to a previously overheated real estate sector," said Neil MacKinnon, global macro strategist at VTB Capital.

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