December 8, 2016
THE DRAGON HAS NO TEETH:
China's statistics chief admits some economic data are false : Acknowledgement of 'fraud and deception' follows suspicions about stable GDP figures (Philip Stephens, 12/08/16, Financial Times)
"Currently, some local statistics are falsified, and fraud and deception happen from time to time, in violation of statistics laws and regulations," Ning Jizhe, director of the National Bureau of Statistics, wrote in a column for Communist party mouthpiece the People's Daily on Thursday.Foreign economists and investors have long expressed doubts about China's economic data. Most prominent are concerns about gross domestic product figures. Compared with other countries. China's inflation-adjusted GDP growth rates are remarkably stable from quarter to quarter, even as nominal figures show considerable volatility.
Posted by Orrin Judd at December 8, 2016 6:15 AM