Economic forecasting -- China

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Smartphones have to be made someplace, and that place is China. In just five years, a company named Xiaomi (which means "little rice" in Mandarin) has grown into the most valuable startup ever, becoming the third largest vendor of smartphones, behind only Samsung and Apple. Chin…

Almost unknown to the rest of the globe, Xiaomi has become the world's third-largest mobile phone manufacturer. Its high-end phones are tailored to Chinese and emerging markets, where it outsells even Samsung. Since the 1990s China has been climbing up the ladder of quality, fro…