Roundup - 21/01/2010

• China's National Bureau of Statistics has released above-target figures for GDP growth in 2009. They say that GDP rose 8.7% over the year with a 10.7% rise in Q4 compared with 2008. This means China is likely to replace Japan as the world's second largest economy by the end of the year. China has now declared itself the first major economy to recover from the economic crisis and PriceWaterhouseCoopers has released a report suggesting China could overtake the US as the world's largest economy as early as 2020. China has said that it will maintain its stimulus policies until demand or its exports recovers fully.
  
  However, statistics also showed a spike in inflation. While in November inflation was at 0.6% year on year, in December this rose to 1.9%. Attempts to reign in lending by the People's Bank of China are therefore likely to accelerate over the coming months.
  
  
  
• Compensation is still being sought for people infected with HIV after blood transfusions in the 1990s, it has emerged. More than 80 people in Daye, Hunan, were infected with HIV after being operated on at the Daye No.2 Hospital. In the 1990s it was common for rural Chinese to sell their blood to hospitals to supplement their income. Some victims are angry at the disparity in compensation offered. One victim who claimed compensation early on is said to have received 190,000RMB, a 500RMB monthly stipend and a promise to allow his child to work at the hospital. Now compensation usually amounts to 90,000-100,000RMB and life-long free healthcare. The hospital says the initially high compensation was offered before it was realised how many people had been infected.
  
  
  
• An additional 300,000 people will have to be moved from their homes due to the Three-Gorges Dam project. The government said that the moves were necessary to stop pollution from building up in the dam's reservoir and to protect the people from earthquakes. According to state media, 1.27 million people have already been moved to make way for the worlds largest dam. When the dam reaches full capacity, it is expected to produce 100 billion kilowatt hours a year of electricity.
  
  
  
• China has placed its J-10 fighter jet on the international arms market. The fighter, China's counterpart to the US's F-16, is likely to prove a popular choice among countries who cannot buy US fighters or who are looking for a cheap alternative. Pakistan has already put in an order for 36 fighters for US$1.4 billion. This puts the individual price at US$40 million per plane, half the price of an F-16, however, it is not clear whether this includes spare parts, maintenance, training, etc.. State media has named Iran and the Phillipines as likely future buyers.