Economic outlook
China's economy will likely start 2010 with double-digitGDP growth, a booming infrastructure build-out, a tighteninglabour market, and increasing worries about inflation. However,concerns about the global recovery and about what will hap-pen when the stimulus package ends mean policy makers willbe hesitant to tighten. We expect growth to moderate duringthe year as consumer spending grows steadily but investmentgrowth slows.