China Cooks The Books


 

The www.newyorktimes.com claims that Chinese officials are lying about economic data in the country trying to make the slow down in the Chinese economy appear to be less severe.  I often wondered years ago how an authoritarian government could run an economy at least attempting to be an open market.  Information is critical in free market economies because it helps companies decide on future investments from whether or not to hire workers or to buy new equipment.  Apparently it is not a new problem in China, in 2007 Lee Keqiang, believed by many to be the future leader of China was reported to have said that he himself did not trust official economic data.  Hey, at least he is honest.

Chinese Data Mask Depth of Slowdown, Executives Say

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