The Organization for Economic Co-operation and Development (OECD) predicts China’s economy will grow over 11% in 2010 and slow to just over 10% in 2011, state media reported. In its Economic Outlook report, the OECD said China’s growth should be steady this year but the economy should grow at a slower rate next year due to the phasing out of the government’s stimulus package. The Paris-based organization said the slow take up in international trade and higher domestic demand would sharply cut China’s current account surplus this year. However, recent signs of overheating in the economy implied growing risks and the OECD recommended China take measures to cool the property market as well as allow for a gradual appreciation of its currency against a basket of currencies.
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