China is a unique place. And an amazing place that has executed an unimaginable transformation. Obviously they embrace capitalism, but they have a central planning edge from their Communist roots.
Saying that Chinese growth is "fake" is obviously ridiculous in its face; but the metrics almost certainly are -- comparing China to Germany or the US is an apples to oranges comparison.
There's no adjustment accounting for the Chinese government saying (and funding): "go build a city there". You also don't have bullshit state enterprises that are essentially big works programs propped up by loans that will never be repaid in the west.
http://www.dw.com/en/what-has-become-of-chinas-ghost-cities/...
China is a unique place. And an amazing place that has executed an unimaginable transformation. Obviously they embrace capitalism, but they have a central planning edge from their Communist roots.
Saying that Chinese growth is "fake" is obviously ridiculous in its face; but the metrics almost certainly are -- comparing China to Germany or the US is an apples to oranges comparison.
There's no adjustment accounting for the Chinese government saying (and funding): "go build a city there". You also don't have bullshit state enterprises that are essentially big works programs propped up by loans that will never be repaid in the west.