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China gets $1 trillion boost from dodgy data: Report

Posted By admin On August 17, 2013 @ 4:38 am In Money Watch | Comments Disabled

Arjun Kharpal
CNBC.com [1]
August 17, 2013

China may be exaggerating the size of its economy to the tune of $1 trillion by releasing “willfully fraudulent” inflation and GDP [gross domestic product] data, according to a study out this week.

Numbers from the world’s second largest economy are treated with skepticism by some economists, but this latest report has attempted to quantify the scale of discrepancy.

“There is strong evidence indicating that the rate of real Chinese GDP growth, and ultimately total real GDP, may be significantly over stated,” said Christopher Balding, associate professor at Peking University’s HSBC Business School, and the report’s author.

Through “significant and systematic irregularities”, official estimates overstate China’s true GDP by 8 to 12 percent, or $1 trillion, according to Balding.

Full story here. [1]

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URLs in this post:

[1] CNBC.com: http://finance.yahoo.com/news/china-gets-1-trillion-boost-130102113.html

[2] China rejects US demand to boost yuan’s value: http://www.prisonplanet.com/china-rejects-us-demand-to-boost-yuans-value.html

[3] Obama stimulus could reach $1 trillion: report: http://www.prisonplanet.com/obama-stimulus-could-reach-1-trillion-report.html

[4] The Reason For China’s Epic 1 Trillion Yuan Deleveraging: The Biggest Housing Bubble Ever: http://www.prisonplanet.com/the-reason-for-chinas-epic-1-trillion-yuan-deleveraging-the-biggest-housing-bubble-ever.html

[5] US To End 2010 With $13.9 Trillion In Debt, Total Debt Incurred Since Great Financial Crash: $4.4 Trillion: http://www.prisonplanet.com/us-to-end-2010-with-13-9-trillion-in-debt-total-debt-incurred-since-great-financial-crash-4-4-trillion.html

[6] China Proposes To Cut Two Thirds Of Its $3 Trillion In USD Holdings: http://www.prisonplanet.com/china-proposes-to-cut-two-thirds-of-its-3-trillion-in-usd-holdings.html

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