The rising demand for the Chinese goods all over the world raised economists expectations that China’s GDP growth could be over 10% this year. It seems that China’s has concerns about the increasing inflation and more boosts in the manufacturing sector would expose its economy to the threat of soaring prices.

U.S. economic growth probably increased at the fastest pace in nearly four years over the final three months of 2009, but it’s not yet time to break out the champagne, economists said. The Commerce Department will release its first look at fourth-quarter gross domestic product at 8:30 a.m. Eastern.

The dollar weakened against 13 of the 16 most traded currencies as investor aversion to risk eased amid expectations of steady global economic growth.

Gold hit another record high on Monday, doing a great job as a hedge against inflation and sluggish economic growth, while oil price rose on a weaker dollar and supply concerns. December contract saw a fresh high above $1,167 an ounce, which insures that the precious metal is extending its winning streak into a seventh session. .

“We have agreed to pursue a strategy of more balanced economic growth, a strategy where America saves more, spends less, reduces our long-term debt, and where China makes adjustments across a broad range of policies to rebalance its economy and spur domestic demand,” Obama said, speaking in Beijing during his first state visit to China.

The euro zone’s ECB released its monthly report for November; revising upwards economic growth for this year and 2010 from the previous predictions in August that inflation will rebound in the upcoming months, while assuring that current interest rates of 1.00% are appropriate.

The U.S. economy showed growth during the third quarter of this year, as massive government stimulus and aid to economic activity in addition to the recent improvement in economic activity supported economic growth, where it seems that the worst recession since the Great Depression in the 1930s is finally over.

Sales of previously owned U.S. homes jumped to a two-year high last month, according to data on Friday. The National Association of Realtors said sales of existing homes jumped 9.4 percent in September to an annual rate of 5.57 million units, the highest level since July 2007.

The major highlight for today in Europe is the minutes released by the Bank of England, since it determines how the vote was split regarding the central bank leaving interest rates steady since their last cut in March and how many members are with the APF program.

Bank of England Governor Mervyn King said Tuesday that the British economy will likely return to growth in the second half of this year, but warned that gains would be modest and that the path to a sustained recovery is far from clear.