Are Chinese consumers readyto save the world by finally taking their place alongside profligate American shoppers? A glance at the sales numbers seems to indicate they are. While U.S. consumers stayed home fretting over their depressed home values and depressing brokerage statements, their Chinese counterparts hit the stores. Retail sales jumped 15.2 percent in China in May, as home and car sales soared. Even with exports collapsing-down 26.4 percent in the past year-China's economy may grow by as much as 8 percent this year. To some experts, that is evidence that the country's booming middle class is driving a recovery.
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