A moderate recovery in China has taken up some of the slack, but questions remain over the durability and quality of growth. Chinese real GDP growth accelerated to 7.9% year on year in the December quarter of 2012, from 7.4% year on year in the September quarter. The pick-up in growth for the first time in two years was supported by a loosening of monetary policy in mid-year and increased government expenditure on infrastructure.
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