Understanding China, One Blog at a Time

An American in China

China Even Knocking Off Facts- Lies About Economic Growth

Posted by w_thames_the_d on May 7, 2012

The Big Ballin’ Brewskie is all over Patrick Chovanec, who actually lives in the big stinky-china, and thus can tell us the truth of her economic reality. Chovanec says that we can’t believe Chinese stats, shocker alert, and that chinas economy is probably contracting. Of course, the western media and biz will disagree, they like to perpetrate the lies about china.
Here is an excerpt
.”He told Abu Dhabi-based Al Arabiya television channel last month that: “The Chinese government economic figures are meaningless, because they are manipulating most of the economic data, which confirms that there is no economic growth in China this year. In fact, China’s production of steel, cement and electricity, as well as the volume of its exports and car sales, are stable or declining compared to last year.”

Chovanec adds that: “Of the companies that I talk to throughout China, there isn’t a single one that is looking at an increase in revenues or an increase in profits this year. They are struggling to stay even. That doesn’t sound to me like a rapidly growing economy. If you talk to investors, anybody, bull or bear, who isn’t completely delusional, is looking at downside risk in China.”

From here

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