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And as I mentioned, it has had very strong import growth, both for processing trade and for domestic consumption. In fact, over the last two to three years, when the global economy was going through rather weak times, China accounted for almost a quarter of world growth in purchasing power parity terms...

So China's influence on the world economy is clearly very important and rising over time. But this makes it even more important that China's growth and stability be maintained because it has much broader implications. And while things look very good at the moment, with rapid growth rates and very substantially rising export orientation, there are still some storm clouds on the horizon...

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