Posted on 10/30/2013 6:52:53 PM PDT by TexGrill
(Vanity) I just heard at an intruiging conversation with a lawyer who works nearby Guomou Subway Station on Line 1 in Beijing. The attorney explained that their law firm is hired by the Chinese government to publish all economic statistics into the English language and make it available as press releases for the Western media, or so the lwayer claims.
Apparently, the lawyer has described a culture of chaos as government officials try to figure out how to make fake economic statistics that look more believable. The source explained the routine.
China has two sets of books: the real economic numbers and the inacurate figure that get sent out to the public. Both sets of numbers are classified as 'Top Secret' government documents that are labeled as "sensitive."
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(Excerpt) Read more at pmnewsnigeria.com ...
A high-level government official makes a decision on which numbers get published: the real or fake. More often than not, the fake numbers get published, since the official claims that the argument for real numbers were not persuasive enough.
However, more and more government officials and staff at the law firm are becoming more stressed out about the scheme. First, they're shocked the Western media hasn't really hyped the fake numbers when it seems more obvious that these figures are fraudulent.
Secondly, they fear they are being set up for the blame when China's economy suffers from a crash. This would explain why the CCP has promoted it's so-called nationwide crackdown on corruption.
When China's economy crashes they can blame the economic statistics team, but a reason why the source wishes to get more exposure on this scheme is to explain that the jugglers of the economic statistics are not really to blame.
They were forced to pulish the fraud and it's high-level Beijing officials who supported the scheme from the very beginning. Top level officials of the Chinese government are making all the decisions and coordinating the project.
When you think about it, let's say you're a low level government numbers cruncher and a high-level official tells you to produce fake figures. If you say no, you risk getting fired and going to jail. If you say yes, you still risk getting fired and going to jail, but at least you can delay your inevitable demise and prepare an escape plan.
This would explain why many corrupt Chinese officials open bank accounts on Wall Street. They often get a warning that they will be indicted on corruption charges a few days in advance. This gives them plenty of time to move their family to a new home in the US and they can get access to their American bank accounts.
Some sources have said that billionaire tycoon George Soros has become the American banker for corrupt government officials, which explains why the Chinese government tolerates his business schemes in the country.
Well, here's my two cents on what's going on behind-the-scenes in China. One wonders how long before China's big crash will occur.
The standard approach to determine if books are cooked is to take random samplings of least significant digits in official numbers. If the books are real, the samples will be random, approximately uniform distribution. If the books are cooked, the samples will not be random.
Reminds me of the old joke about French bookkeeping. You have three sets of books.
The real books
A set of books to show the tax collector
A set of books to show the tax collector when he asks to see the real books
LOL: I bet right now you got some government officials saying, “that’s a brilliant idea, why didn’t we think about that beforehand ...” I anticipate more late nights for them as they create a third set of books
A Chinese aquaintance told me that the expression ‘GDP’ in China sounds like ‘chicken f*rts’ in chinese so that whenever they hear the ‘GDP’ as expressed in china everyone laughs. ;-)
“First, they’re shocked the Western media hasn’t really hyped the fake numbers when it seems more obvious that these figures are fraudulent.”
This has been going on for decades. Our media fails in a lot more than just domestic politics.
Ghost cities, ghost malls, and ghost GDP ... What next?
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