Don't believe the hype, raps Freris

The possibility of an overheating China has emerged as one of the pre-eminent concerns of the 2004 economic calendar. Many point to the investment-fuelled 9.7% GDP growth in the first quarter as a key indicator that the PRC could pop at any moment. Others suggest that excessive reliance on imports of raw materials and accelerating inflation are signs the China story could take a hit.