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I have been in Hong Kong and Shanghai recently with work. I can tell you first hand that this is not a lie. China's economy is on steroids.

I thought when I was in Asia previously - Seoul, SK working there as a consultant for their largest financial institution in the early 2000's that nothing compared as far as a fast paced and strong economy in this part of the world. However, I was wrong. In fact, I think the percentage of growth in china is actually much higher than what is being reported here. Connect the dots and you will understand what is happening!