SamuelRSmith on 09 October 2014
It should also be pointed out that, largely, you can ignore the Chinese gov't data. It's about as accurate as the Soviet's was, back when their economy was doing gangbusters.
For instance, food prices are going up in double digits, real estate is in a bubble, transport and travel costs are going up. The purchasing power of any given remnimbi is falling fast, faster than the dollar. Now, are people making more each year the surpass this chronic inflation? According to the Government, yes. But they claim inflation is just 2-3%.
The fact that the typical Chinese saver is now trying to get their money out of China says that even their population ain't buying it.
Incidentally, USA gov't data is bullshit too.
