Is China's recovery a fraud?
Jim Quinn
Lew Rockwell.com
May 5, 2010
The China growth miracle has resumed its vertical trajectory. We know this because the Chinese government says it's so. And, of course, governments never massage economic numbers for public consumption,right?
If you believe the data, China's GDP has tripled since 2000, with annual growth rates ranging from 8% to 13% over that time frame.
While we can't be entirely sure about the numbers, we are sure that China produced while America consumed, and that while China saved,America borrowed.This is the formula that made the world go round untilSeptember2008, when the wheels came off the worldwide financial system.
Read the full article here.
Lew Rockwell.com
May 5, 2010
The China growth miracle has resumed its vertical trajectory. We know this because the Chinese government says it's so. And, of course, governments never massage economic numbers for public consumption,right?
If you believe the data, China's GDP has tripled since 2000, with annual growth rates ranging from 8% to 13% over that time frame.
While we can't be entirely sure about the numbers, we are sure that China produced while America consumed, and that while China saved,America borrowed.This is the formula that made the world go round untilSeptember2008, when the wheels came off the worldwide financial system.
Read the full article here.
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