http://thediplomat.com/2015/08/are-chinas-gdp-numbers-believable/
Last week, Forbes ran a piece
by hedge fund manager Jay Somaney, who argued that China’s growth is
significantly lower. Somaney cited as evidence data points from the
precipitous drop in the Chinese stock market and an 8.3 percent drop in
exports to a glut in the country’s real estate market and the
devaluation of the renminbi (RMB) by Chinese monetary authorities. Ivan
Glasenberg, CEO of the commodity trading and mining firm, Glencore,
speculated that China’s crackdown on corruption has stalled
infrastructure projects, slowing growth well below 7 percent. As this
piece was written, the median estimate of 11 economists surveyed by Bloomberg put China’s GDP at 6.3 percent.
But noted China pundit and author, Gordon Chang, has been expressing
stronger skepticism for months. Chang was recently in Hong Kong, where
he says he spoke with “an individual very close to influential people in
Beijing.”
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