World Economy

China's economic growth slows to 9 per cent in third quarter

China's economic growth slows to 9 per cent in third quarterBeijing - China on Monday reported a 9-per-cent growth in its estimated gross domestic product for July to September, maintaining fast but marginally slower expansion despite global financial woes.

Estimated GDP growth was down from 10.6 per cent in the first quarter and 10.1 per cent in the second quarter of this year, the National Bureau of Statistics said.

Bureau spokesman Li Xiaochao said the global financial crisis and economic recession had begun to have a "negative impact" on China.

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Global slowdown threatens millions of jobs in China

Global slowdown threatens millions of jobs in ChinaHong Kong - Up to 2.5 million people could lose their jobs in the Pearl River delta, covering Hong Kong and parts of southern China, by January as a result of the global economic slowdown, a media report said Sunday.

The financial crisis could also bankrupt one-fourth of Hong Kong-owned small and medium-sized enterprises in the next three months, the South China Morning Post quoting the local business group, the Federation of Hong Kong Industries.

Singapore's 2009 economic growth could drop lower than 3 per cent

Singapore's 2009 economic growth could drop lower than 3 per cent Singapore - Singapore's 2009 economic growth could be slower than the estimated 3 per cent originally expected this year, cautioned the city state's former Prime Minister Goh Chok Tong.

Goh, now ranked senior minister in the government, was quick to assure that the government was looking at how to help Singaporeans overcome temporary economic hardship next year.

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