China’s economy grew 11.2% in the fourth quarter of 2007 despite government efforts to slow the pace of expansion, AP reported. The figure represented only a slight decline from third-quarter growth of 11.5%. Annual growth was given as 11.4%, the highest figure since 1994. China’s rapid growth is seen as a sign that it remains insulated from a possible US recession, but some, including the Chinese government, worry that measures to restrict borrowing and investment will not prevent the economy from overheating. Inflationary fears have been fueled by rising consumer price figures, which were up 4.8% in 2007, well above the government’s 3% target for the year. The official growth target for 2008 is 8%.
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