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Friday, August 24, 2012

China's Economic Growth stats are fake; based mostly on massively rising inventories, not on demand for products!

The glut of everything from steel and household appliances to cars and apartments is hampering China’s efforts to emerge from a sharp economic slowdown. It has also produced a series of price wars and has led manufacturers to redouble efforts to export what they cannot sell at home.

Just like in the US, and Europe, the Chinese government is, gasp, lying about everything:

The severity of China’s inventory overhang has been carefully masked by the blocking or adjusting of economic data by the Chinese government — all part of an effort to prop up confidence in the economy among business managers and investors.

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