Commenting on China's Economy on CBC Radio

Mr. Gordon Houlden, director of the China Institute commented October 20 on CBC National Radio, on the impact of recent Wall Street financial crisis on China's economic growth rate for the second half of 2008. According to China's National Bureau of Statistics, the country's economy had grown at a rate of 9% in the three months to September - down from 10.1% over the previous quarter. Mr. Houlden stated that the Chinese economy is cooling more rapidly than expected in the face of the global financial meltdown after five years of double-digit expansion. Howeverm he noted that growth in the third quarter, over 9 percent, is still exceptional by historical standards, and would be welcomed by almost any developing country.