Optimistic mood in Chinese firms with GDP growth set to exceed 8%

The first-hand experience of those running manufacturing companies in China is a valuable guide to the outlook for the world's fastest-growing economy and, indeed, the region as a whole.

Using this barometer, the forecast is a positive one. The mood among the businessmen I sit down with is optimistic. In 2008, they were laying workers off as the downturn drastically reduced demand from the United States and other export markets. Today, order books are filling up and they are recruiting for their production lines. Investor confidence in Asian markets did, of course, experience a wobble recently when President Obama unveiled plans to clamp down on the trading activities of US banks and Beijing announced measures to tighten the supply of money in the Chinese economy. Oba...