China's economy is slowing ... but still leaving most nations in the dust. The country's GDP grew at 8.1 percent in the first quarter, the National Bureau of Statistics said Friday, which is a rate that the U.S. could only dream of. But it marks a deceleration from the 8.9 percent rate in the quarter before, and it is historically a low for a country that's seen 10-percentage points of growth for three decades. Government efforts to cool inflation and deflate a housing bubble were some of the reasons the world's second largest economy started slowing last year, and the problems in Europe and the U.S. also affected China's manufacturing and exports.
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