The West has been relying on cheap credit and debt to fuel growth ever since the 70s. It is China that props them up and, without China, their economies will collapse.
A lot has changed since those days. For example today Beijing Capital Airport is a comfortable ultra-modern airport with many shops and kiosks.
Likonomics will pave the way for a fair playground for competition among businesses. It will revitalize the economy and help to overcome the middle income trap.
The central bank of China is rightly worried about excess credit. And they seem to be managing it in a sensible way.
China's economic recovery unexpectedly stumbled in the first three months of 2013,forcing analysts to start slashing full-year forecasts.
China's poultry sector has recorded losses of more than 10 billion yuan ($1.6 billion) since reports emerged of a new strain of bird flu two weeks ago.
While some economists said the growth in imports would help dispel the concerns over continued demand in the long run, others have expressed doubts over the authenticity of the data.
Foxconn Technology Group has halted recruitment at one of its key plants in Shenzhen owing to plans to further automate its production processes.
China vowed to keep property price controls in place - such as curbs on the purchase of residential housing for investment purposes and by expanding the scope of property tax.
Nexen said on Feb 12 that the US committee had given the green light and that it expects the deal to close in the week of Feb 25.
Chinese tourists spent $85 billion overseas in 2012, twice the 2011 annual profit of MobilOil Corp, the largest company in the world by revenue.
Chicken sold to KFC's parent Yum! Brands Inc in China contained excessive levels of chemicals, escalating a month-long food scare.
Cross-border yuan loans from Hong Kong to Shenzhen's Qianhai district, a 15-square-kilometer financial pilot zone, are now permissible.
China's consumer price index, a main gauge of inflation, grew 2.5 percent year-on-year in December, the highest since May.
Passenger cars with seven seats or less and motorcycles will get a free pass through toll roads, bridges and tunnels during the Spring Festival holiday.
Apple Inc's latest iPhone 5 handsets officially went on sale on Friday in the Chinese mainland. The world's longest high-speed rail route from Beijing to Guangzhou will open on Dec 26.
As one of the hottest and most-visited scenic spots in Beijing, the Great Wall seemed to be overloaded with the huge number of tourists during the Golden Week holiday, as a photo taken by a micro-blogger showed. The photo gave that impression because of the angle of the shot.
During the just finished eight-day holiday, which combined Mid-Autumn Festival and the National Day break, the number of Chinese visitors to South Korea was expected to reach a record high - about 100,000.
As the eight-day Golden Week holiday approaches, a number of tourist attractions nationwide have cut their ticket prices.
After the upsurge in the outbreak of anti-Japan sentiment, some Japanese companies that closed a couple of days before the special day have gradually resumed operations in China.
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263 Registration Number: 130349 
