China is the topic du jour ahead of Obama visit next week. The rest of the world is relying on the Chinese economy to pull the global economy out of recession and back into growth. North America propelled the last global boom, now its their turn. The Chinese with a capitalistic expansion propelled by a system they still refer to as ‘socialism with Chinese characteristics’ continue to thrive with a supposedly annual GDP growth of +8.9% in the 3rd Q.
However, individuals argue that inconsistencies in Chinese official statistics may indicate that the Chinese are simply cooking their books.
These self-styled China bears take the less popular view: that the much-vaunted Chinese economic miracle is nothing but a paper dragon.
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