China's national economic plans have been reduced to a shambles, which is great news for investors in energy, materials and capital equipment.

At least for a while. I'd say we have 12 to 18 months of relatively clear sailing before the bills come due, as they always do.

My advice: Rejoice for a moment and then add to share positions in companies likely to benefit from the shambles. In this column, I'll give you 10 stocks that fit that profile. And watch like a hawk in 2008 for signs either that the Chinese economy is reaching a boiling point or that the Chinese government is ready to get serious about turning down the flame under the pot.

Brakes Don't Work

China's government wanted to slow the economy's growth a bit from the 10.7% rate turned in for 2006. A rate near 8% would be ideal, Beijing's planners said at the beginning of 2007, because that is high enough to generate the jobs the country needs to stay even with its population growth and low enough to keep the economy from further overheating.

Instead, what the country got was 11.1% growth in the first quarter, the National Bureau of Statistics announced April 19. And now the Chinese Academy of Social Sciences is predicting 10.9% growth for all of 2007.

So you can put away your worries about the global economy until 2008, I'd say. China's economy -- no matter what the planners in Beijing might want -- just won't let the global economy slow down.

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