Tuesday, May 14, 2013

When a forecast...

...makes big news, you have to wonder about the veracity of official statistics.  Readers here know that  "official statistics" is something of a misnomer when it comes to the Paper Dragon, but the arrogant tenor of a country tweaking its growth rate in nice, round numbers is yet more evidence of farce.

According to local media reports, China could lower its official growth forecast to 7 percent next year – a move that would definitely be worth watching and one that suggests Beijing is growing more comfortable with slower pace of growth, China watchers say.
Economic growth of 7 percent is the bottom line for policymakers and any stimulus efforts could make the task of controlling the property market and inflation much harder, the China Securities Journal reported late last week.

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