World News Brief, Friday July 17

China's economy bounces back; Clinton wants Iran negotiations; Honduran compromise offer; India to build nuclear reactors; and more

Top of the Agenda: China Shows Surprising Economic Growth

China’s economy grew by 7.9 percent (NYT) in the second quarter of 2009, the Chinese government said Thursday, making it one of the few major economies showing significant growth. China’s economic stimulus initiatives have helped propel growth—new lending was up 201 percent (BusinessWeek) during the first half of 2009. Retail sales in China were up 15 percent (Xinhua) from a year earlier.

Background:

The Financial Times looks at the factors contributing to China’s growth.

Analysis:
Writing on CFR’s Brad Setser’s Follow the Money blog, RGE Monitor’s Rachel Ziemba warns that China’s reserves may be too high.

A recent Reuters article speculates on the impact of China’s growth on the global auto market.

A CFR Crisis Guide offers an in-depth, multimedia look at the causes and consequences of the global economic crisis.

 

PACIFIC RIM: China Alerts Algeria

China advised Chinese citizens living in Algeria to be on alert (CS Monitor), after reports that North Africa’s al-Qaeda in the Islamic Maghreb is plotting revenge for the deaths of Uighurs in riots in Xinjiang province earlier this month. China also said on Thursday that it will soon issue arrest warrants (AP) for those responsible for the riots.

A Backgrounder profiles al-Qaeda in the Islamic Maghreb.

 

ELSEWHERE:

Clinton urges Iran dialogue.

India chooses sites for U.S. to build nuclear reactors.

Honduran interim leader willing to step down.

This is an excerpt of the CFR.org Daily News Brief. The full version is available on CFR.org