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China Can Help

Its trade boom may prevent a global slump.

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It has been said that when the U.S. sneezes, the rest of the world catches a cold. So is the needed dose of vitamin C and a cup of hot tea and lemon?

Alan Greenspan said on Thursday night at an energy conference in Houston that the United States is "clearly on the edge" of a , Reuters reported.

But "the growth momentum in China's economy is sufficient to help balance out whatever is happening in the U.S.," , an economist at Action in Singapore, told Bloomberg News.

New data confirm that China's engine of growth is still running hot, indicating that it could prevent a global slump.

China's official news reported that the nation's surplus with the rest of the world ballooned 23 percent, to $19.5 billion, in January from a year ago, more than forecasts. It did, however, narrow from December's surplus of $22.7 billion.

Exports increased 27 percent in January to $109.7 billion, while imports rose 28 percent, to $90.2 billion.

The growth came even on higher export taxes and amid calls for Beijing to let its currency, the yuan, appreciated in value against the dollar.

"While we are experiencing a decrease in growth in advanced economies, it is even more necessary than before to have a high level of growth in China," Dominique Strauss-Kahn, the managing director of the , said in Beijing, according to the Associated Press.

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