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To: ponder life
"allow the yuan to be fully convertible on the international currency exchange"

Until that happens, all economic information is bogus. That and they are Commies.

yitbos

5 posted on 03/03/2012 4:13:29 PM PST by bruinbirdman ("Those who control language control minds." -- Ayn Rand)
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To: bruinbirdman
Until that happens, all economic information is bogus

Well...not all economic information. There are statistics that are internal to China, i.e., their own data about economic growth, industrial production, GDP, etc.

But there is even more information that are external. For example, when the price of commodities such coal, iron ore, copper, etc. are driven up because of China, that phenomenon cannot be faked by China. Or when GM says they produced over 2 million vehicles in China, that data can't be faked either. Or the actually volume of China's trade, since it would have to match the volume of statistics kept by other countries.

Those external figures, have demonstrated, that much of China's economic growth is real. And while individual provincial governors inflate their economic data, it might be because they simply cannot gather all the data out there. So, they gather what they can, and tack a little bit more. And in some cases, even after faking their numbers, they could still under estimate what is happening within their own province.

The real test for isn't whether or not she can keep good statistic (though, that is still a very important thing to do). The real test, is that as she reduces economic controls across her borders, how will she do. And that is one of the steps in internationalizing the yuan and making it fully convertible.

6 posted on 03/04/2012 2:37:00 PM PST by ponder life
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