Business is Awesome in Asia, Especially in China!

China's trade surplus for the first three months of the year grew to $41.6 billion.

The Chinese number crunchers released their updated, final GDP numbers for 2007, which they revised up from 11.5% to 11.9%, the fastest pace in 13 years. Instead of slowing down, the numbers show that the economy is accelerating ... not slowing down.

China's trade surplus for the first three months of the year grew to $41.6 billion, pushing its war chest of foreign reserves to $1.68 trillion, a whopping 40% increase from a year earlier.

So while there is plenty of talk about a U.S. recession, there isn't any debate about China and its Asian neighbors continuing to grow like weeds.