China's Inflation Accelerates, Adding Pressure -- Wall Street Journal
The country's gross domestic product rose 9.7% from a year earlier in the first quarter, down marginally from 9.8% growth in the fourth quarter of 2010. Growth was faster than expected, as economists polled earlier by Dow Jones Newswires had a median forecast of 9.5%.
The consumer-price index, meanwhile, rose by 5.4% from a year earlier in March, up from 4.9% in February and the fastest pace since July 2008. Economists had expected a 5.3% rise.
China's leaders have said repeatedly that taming consumer prices is their top economic priority this year. They have taken a long series of measures in that fight, including four interest-rate increases since October and government orders to companies like Anglo-Dutch consumer-goods giant Unilever PLC to delay planned price increases. But prices have continued rising rapidly
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My Comment: The Chinese economy is rapidly becoming like the U.S. economy .... when both sneeze everyone else gets a cold. Therefore, nothing will heighten tensions more in Asia than what happens in China, and if there is economic instability (i.e. inflation), this will impact everyone.
