My personal question: in the situation described below,who is that the China state? In generally, the Chinese people or 1-2 people?
What do you think, is it true?
"China growth probably half reported rate or less, say skeptics
By Ross Finley
LONDON (Reuters) - China's economy is growing only half as fast as official data shows, or maybe even slower, according to foreign investors land analysts who increasingly challenge how the world's second largest economy can be measured so swiftly and precisely......
....."We think the numbers are fantasy," said Erik Britton of Fathom Consulting, a London-based independent research firm and one of the more vocal critics of official Chinese data. "There is no way those numbers are even close to the truth."....
...That statistical stability comes at a time when prices of global commodities, which China still hungers for despite a campaign to rebalance the economy away from investment and manufacturing toward consumer spending, have cratered.
But perhaps the biggest question is how a developing country of 1.4 billion people can publish its quarterly gross domestic product (GDP) statistics weeks before first drafts from developed economies like the United States, the euro zone or Britain, and then barely revise them later....
..The uncanny official calm in China GDP data may well be contributing to skeptics' exit from Chinese assets just as the authorities struggle to manage a volatile stock market....
..."MAN MADE"Li Keqiang, now Chinese Premier, was cited in leaked U.S. diplomatic cables years ago from when he was Communist Party head in Liaoning province calling GDP figures "man-made" and unreliable. This remains a buttress for widespread scepticism.
Fathom publishes a simple indicator based on three variables that Li said at the time he watched for a better view of how his local economy, and by extension the national one, was faring: electricity consumption, rail cargo volume, and bank lending....
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"Clearly nobody believes the data," said Sushil Wadhwani, a former Bank of England Monetary Policy Committee member and founder of Wadhwani Asset Management LLP.
"I truly don't know where we are in that range", he said.
China’s National Bureau of Statistics did not respond to requests for comment on the accuracy and speed of its GDP data....."
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China growth probably half reported rate or less, say skeptics | Reuters