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Overheating Worries: China Economy Sizzles with 11.1% Growth in Q1 07

China's economy surged 11.1% in the first quarter, causing the country's Cabinet to declare Thursday it will take steps to keep the economy from overheating, reports AP. It was the highest growth rate since Q2 2006's 11.5% growth, the fastest in a decade.

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China Trade Surplus Falls Sharply to $6.9 billion in March 

China's trade surplus in March fell to $6.9 billion, well below forecasts and down sharply from February's $23.7 billion surplus, reports AP. It was not clear whether the drop in March was the result of government efforts or would have a lasting impact.

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India Services Exports to Hit $310 billion and Surpass Merchandise Exports by 2012

India's export of services is expected to touch $310.9 billion by 2011/12, powered by the booming software, consultancy, engineering and tourism sectors, according to the Federation of Indian Chambers of Commerce and Industry (FICCI) survey. Services exports could surpass merchandise exports, which are expected to more than double to $305.5 billion in the next five years. 

India: Projected Exports of Services and Merchandise 

 

Services ($ billion)

Merchandise ($ billion)

2006

71.6

112.4

2007

91.5

132.7

2008

116.9

156.8

2009

149.2

185.3

2010

190.6

218.9

2011

243.4

258.6

2012

310.9

305.5

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Chinese Consumer Market to Hit $8.8 trillion by 2020; Becomes Second Largest by 2015

China is on course to become the world's second-largest consumer market by 2015, according to Credit Suisse, reports Reuters. Credit Suisse projects that the value of Chinese consumption will hit $8.8 trillion by 2020, fueled partly by a 5% yearly appreciation in the yuan between now and then.

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China Mobile Adds Record 4.86M Users in January; Total Subscribers Surpass 300M

China Mobile, the world's largest wireless phone carrier by users, with more customers than the total U.S. population, added a record 4.86 million subscribers in January, taking its total to 306.1 million users. China Mobile stock surged 83% last year. 

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Chinese Electronic Information Products Exports to Jump 14% to $390B in 2007

China's export of electronic information products, including computers and communications products, is expected to grow 14% to $390 billion in 2007, according to China's Ministry of Information Industry, reports Xinhua. 

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India Aims for Fourfold Jump in IT Exports to $80 billion by 2010

Indian software and services exports are expected to jump nearly 33% to $31.3 billion during the fiscal year ending Mar 2007. India's Prime Minister Manmohan Singh told Indian IT leaders to be ambitious and aim for IT expots of $80 billion in 2010, nearly fourfold increase in annual exports of from fiscal 2006. 

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India to Cross $1 trillion in GDP by Next Year; Fastest GDP Growth in 18 Years

Indian economy, Asia's fourth-largest, was expected to expand 9.2% this fiscal year ending in March, its fastest growth in almost two decades, according to the government reports. By comparison, China's economy grew 10.7% in 2006. India's economic growth has averaged 8.3% over the past three fiscal years. 

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China to Become No.1 Exporter Worldwide in 2008, Surpassing Germany and US

China is set to over take U.S. as the No.2 exporter worldwide this year and with an estimated $1.4 trillion dollars in exports in 2008, China will surpass Germany in 2008 to become the No.1 exporter in the world, according to Germany's federal foreign trade body BFAI. 

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India Debt Rating Raised to Investment Grade; Economy to Grow at Record 9%

India's debt rating was raised to investment grade by Standard & Poor's for the first time in 14 years . Moody's Investors Service raised its rating to investment grade in January 2004, followed by Fitch Ratings in August 2006, reports Bloomberg.

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