CHINA

Economy Surges in First Half: The economy moved into high gear in the first six months of 1992, with gross national product surging an estimated 10% over the same period last year, People’s Daily said. Industrial production, consumer spending, trade and domestic investment all shot higher. Economists predicted that the growth will continue. While mindful of fears that the high growth rate may mean that China is courting another dangerous episode of economic overheating, People’s Daily described the situation as “prosperity amid stability.” The newspaper attributed the high growth rates, which outstripped even the government’s increased estimates, to senior leader Deng Xiaoping’s call in January for faster economic reform.