Although it denies "allegationst that it cooks its books," some economists seem to think that the picture-perfect economic growth shown by China may be a result of political pressure forcing inflated numbers. If devaluation of its currency is a possible sign, the world may face a financial crisis similar to that experienced in 2008.
[...] Achieving growth targets is a matter of political importance in China, and there's evidence that someone somewhere is fiddling with the numbers.
For one thing, China's No. 2 leader, Li Keqiang, admitted as much in 2007.
A diplomatic cable released to the public by Wikileaks quoted Li as saying during a dinner that GDP figures were "man-made" and therefore unreliable. Li said he personally looked at electric consumption, rail cargo and loans disbursed for a clue to how the economy was operating, rather than official growth figures.
"All other figures, especially GDP statistics, are 'for reference only,' he said smiling," the cable reads.
|Maltese Citizenships Now on Sale|
|Deficits of Mass Destruction|
|Forget Piggy Banks -- Get a DSLR Camera Coin Bank|
|Study: Spending More On Workers Leads to Higher Sales|
|"This created a bubble, and like housing, that bubble has now burst."|
|Time Lapse of Planet Earth as Seen from the Space Station|
|“A short cut through spacetime allowing for travel over cosmic scale distances in a short period.”|
|CaptchaTweet: Write Tweets in Captcha Form|
|“If you fell asleep in 1945 and woke up in 2018 you would not recognize the world around you.”|
|Read Advice People Wish They Had at Your Age|
|“Reliably bottling up miniature stars, inside complex machines on Earth, demands otherworldly amounts of patience.”|
|The (Very Scary) People of Public Transit|
|Recycled Vacuum Lamps|
|How to Avoid Jury Duty|
|The Racist, Sexist Tendencies of AI|
|Walking Car Concept|
|Timelapse of a Tesla Model 3 Being Made|