China's economic growth surged to an 11-year high of 11.9% in the second quarter. Asia's new economic giant is on course to chalk up its fifth-straight year of double-digit percentage growth. And after leapfrogging the United Kingdom in 2005 to become the world's fourth-largest economy, China is set to overtake Germany for the #3 spot by the end of this year.
Eye-popping economic growth rates notwithstanding, China's reputation for economic invincibility has taken a serious knock in recent weeks. The media barely noticed when Chinese-made drugs contaminated with diethylene glycol led to the deaths of dozens of people in Panama last year. Only when pet food containing the wheat gluten tainted with the chemical melamine was blamed for the deaths of dogs and cats in North America did the mainstream public sit up and take notice. Suddenly tales of toxic fish, defective folding chairs, jui
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