To: charles m
The point is, blaming the World Bank’s own overestimations on the Chinese government is just stupid.The World Bank wasn't using info provided by the Chinese government?
19 posted on
12/20/2007 7:57:42 AM PST by
Toddsterpatriot
(What came first, the bad math or the goldbuggery?)
To: Toddsterpatriot
The World Bank wasn't using info provided by the Chinese government?
No, they were making their own estimates from indirect factors. The reason the World Bank is making the 40% downward adjustment is because they got actual Chinese government statistics now.
To: Toddsterpatriot
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.
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