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Past Chinese growth has set expectations too high. It is ridiculous to point to a 6.6% growth rate and say it is low.
by ummonk 8y ago
Past Chinese growth has set expectations too high. It is ridiculous to point to a 6.6% growth rate and say it is low.
- seppin 8y agoAlso ridiculous to think those numbers were accurate.
- ggm 8y agoI don't think anyone thought they were accurate, what mattered was the fiscal policies the Chinese state bank enacted regarding the value of the renminbi.
- polxiform 8y agoIn a lecture to senior business executives on Dec. 16, Renmin University economics professor Xiang Songzuo, said that a “very important institute” in China estimated that China’s GDP growth for 2018 should be about 1.67 percent or even negative, and not the statistics bureau’s official figure of 6.5 percent. https://sinoinsider.com/2018/12/politics-watch-xis-reform-anniversary-speech-signals-political-crisis-in-china/ https://sinoinsider.com/2018/12/politics-watch-xis-reform-an...
- outlace 8y agoThe numbers may not be super accurate but if you've ever been to a big city in China in the past decade you would have witnessed circa 10% GDP growth with your own eyes.
- zipwitch 8y agoPerhaps a better read might be "too low for 'the 1%' to continue extract wealth from the global economy at the rate to which they have become accustomed without provoking destructive backlash"?