Lack of Accuracy in Chinese Economic Data
Stocks tumbled on news of growth at 7.7 percent last quarter
After China reported quarterly economic growth of 7.7 percent this week — far above anemic U.S. and European performance — global markets reacted by falling, wiping billions of dollars off stock prices.
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It never ceases to astonish me, the reverence with which economic data coming from Communist regimes is treated. Why does ANYBODY think they are telling the truth?