CHINA TO BECOME EVEN MORE IMPORTANT - China is an even more important place on the planet, perhaps this year overtaking Japan to become the world's second-largest economy. While most of the rest of the world slumped and contracted, China's economy grew at a level that beat even its own expectations to almost $5 trillion.
There was economic expansion of 8.7%, with the speed of growth building momentum towards the end of the year - up at an annual rate of 10.7% in the three months to the end of December.
Jun Kato of the Shinkin Central Bank Research Institute in Tokyo said the Chinese government's stimulus package had lifted its growth, while strong bank lending was also boosting domestic demand.
He said it was possible that China's economy would overtake that of Japan this year, and its currency would become more important to the world market.
John Whelan, chief executive of the Irish Exporters Association, said the tightening of credit conditions in China was unlikely to have much impact on trade with Ireland and was more likely to hit internal demand in the country.
He said baby food was one of the big growth areas for Irish exports to China, while pharmaceutical and medical devices exports were also strong.
Asked about the air traffic controllers' dispute, he said it was the 'last thing we need', as it was affecting pharmaceutical exports in particular. Mr Whelan said this sector was heavily reliant on air freight.
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CURRENCIES - The euro is worth $1.4092 and 86.65p sterling.
