How reliable is China's economic data? | DW Business

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China's National Bureau of Statistics has vowed to punish officials for falsifying economic data - warning that anyone caught fudging the numbers would be "found, investigated and dealt with." The warning comes amid mounting skepticism about the veracity of China's official data.

The video features analysis from Derek Scissors, Senior Fellow at the American Enterprise Institute.

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#China #economy #statistics
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“We know that they are lying, they know that they are lying, they even know that we know they are lying, we also know that they know we know they are lying too, they of course know that we certainly know they know we know they are lying too as well, but they are still lying. In our country, the lie has become not just moral category, but the pillar industry of this country.” Aleksandr Solzhenitsyn

chenyenchengful
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I was in China for about a month in May and the place is literally bursting with prosperity. The buildings in the cities are new and sparkling, the road network is modern and well constructed and there is 45, 000 km of bullet train track...more than the rest of the world combined. Western countries seem caught in the last century by comparison.

JMKeynes
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6:39 "Xi does not want a thriving private sector" - first time I've heard a commentator say that. Explains Xi's crackdown on multiple industries, but does he realistically think that the state can provide the growth for the economy?

farhorizons
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The U.S. is literally adding roughly $2 Trillion in new debt every year right now, just to hold off economic recession...but China is somehow doing worse.

jasonjean
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It means the internal fiddling of the statistics is to such an extent that they are not meaningful or believable by even domestic organisations

hoanglannguyen
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China... # 1 in EV cars, head of BRICS, biggest project on the planet (belt & road), only nation with world class space station, manufacturing capital of the world, major infrastructure projects world wide, 5000 years of recorded history, # 1 in A.I., biotech, science, math, computer, etc. longest uninterrupted history, oldest surviving civilization & richest nation 1500 years ago, as well as the richest nation on the planet today. no other nation can even come close. what china did this last 50 years was ground braking, albeit this next 50 years will be even more astonishing. this next generation is western educated, world traveled & they think outside the box. brave new world indeed...

raymonddon
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This commentator apparently knows his stuff

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Actually chinese economy may be inflated by about 40% -50% real chinese economy could be 12-13 Trillion $ and Indian economy is understated by 40-50%, real Indian economy could be well over 6 Trillion $, so its a crazy world we live in 😅

bmmilind
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“There are three kinds of lies: lies, damned lies, and Chinese government statistics.”

pervertt
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Really good and informative interview. Keep it up!

Ves
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Falsifying data? How reliable is Germany's Covid data? or VW's emission data?

MeganoOdles
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👍🏻 The official 🇨🇳 data are completely crooked since a long time for one single reason: real estate.

Very simple when you finish building new homes/apartments you declare the value per sqm that you want and multiply by the nb of sqm even though none of these apartment has been sold !!! And they have been advertising apartments at 1000-2000 USD/sqm in remote regions when these apartments have technically no value. In my view not more than 100-200 USD/sqm. So 10x more than real value… so if you multiply by 100.000s of apartments built then you understand.

Some more they have been literally forcing people to relocate in these apartments by cutting down on their access to school for their kids, medical coverage and so on… people got into heavy debt that they will never be able to pay back !

Another 5 years and disaster will strike anyway.

davidmarchand
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Very interesting dude. Would love to see more of him.

lagoonlane
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Any provincial bureaucrat who has been sending misleading data would instantly make himself suspicious if he suddenly changed it now.

lhommeaudacieux
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😂…that’s hilarious. China has been doing this since they entered the WTO.

donyakusa
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Literally DW's 9 out of 10 videos are about china, russia and India biggest propoganda channel I've ever seen 😂😂

rosemarryme
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Very enlightening! Great anchor and commentator.

axis_
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I'm hopeful for India but his opinion on the increased interest into investing into India is correct. Great guest.

bfrandsen
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Even Li Keqiang, the econ head, said it's for guidance and that the figures are unreliable...so more of a target to reach, at all costs, if officials want to keep their posts. He looks at electricity consumption, rail cargo and bank lending instead. M2 money supply is probably better than lending data. Post covid, better to look at retail sales, air travel and the property market.

zz
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Drop in imports, drop in exports, but growth in GDP... suuure....

zapfanzapfan