CHINA
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From Times Staff and Wire Reports
Overheated Economy Feared: China’s top economic policy-maker, Zhu Rongji, thinks the government has issued too much money, which “will finally trigger off inflation,” according to a recent report in the China Daily newspaper. Retail prices rose 8.5% nationwide in the first two months of this year compared to the year before, state-run Chinese Central Television said. Last year, despite 12.8% economic growth and a 30% increase in money supply, prices rose 5.4% nationwide, and only large cities suffered double-digit inflation.
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