Quote:
Originally Posted by u-Bob
- Most of that stellar growth has already proven to be false. Most economists estimate that the GDB statistics provided by the Chinese gov are off by 50%. The World Bank published a report saying that the Chinese numbers were exaggerated by at least 40%.
- If your per capita GDB is very low than any small increase will look like a huge increase in GDB percentage wise.
- There have been modest reforms in China and those would account for the real growth.
If the case of China tells us anything, then it's that its reforms did not go far enough.
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i hear ya, and agree. it's common knowledge that the west does not have hard #s on china and china does cook the books.
nevertheless.
your comment reinforces my curiousity, i wonder what most austrian economists have to say about china
while there's no denying china is an economic powerhouse and it is verified they have 3 trillion cash reserves, i happen to think it is all teetering on the brink of either an uprising (which are currently sweeping the globe) and/or a huge economic dump due to all the manhandling of their economy in a communist society. china can't be the only economy on the planet that is not unhealthy.