Posted on 12/19/2007 3:07:49 PM PST by nuconvert
It’s true that Chinese government statistics are unreliable, but unlike the Soviets, they tend to be underestimating rather than overestimating. The main reason for this is that China wants the world to think it’s a developing country (to get aid and also less flak for things like global warming and pegged currency exchange rate). This World Bank revision just gives the Chinese an excuse NOT to appreciate their currency.
I'd be shocked if that were the case.
There’s a reason why the Soviet Union has collapsed and China is still around. The economic growth in China is very much real and tangible, it’s not just a statistical maneuver. You don’t even need to travel to China to see it.
Yes, they have real growth. I'd be shocked if it was close to the numbers released by the Chinese government.
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