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Jul 21 2008
11:38AM
EDT
Chart of the Day: Chinese Consumers on the Rise
Just in time to dodge an expected consumer spending collapse in the United States, retail sales growth in China has recently edged ahead of export growth:
From Alex Patelis at Merrill Lynch:
Those that focus on China's decelerating export growth as evidence that the economy is slowing are missing the point: China is finally rebalancing with domestic consumption strength emerging as a new driver of the economy.
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