China's GDP up 11.1% in first half 2010 !

[Better Believe It]

China's GDP up 11.1% in first half 2010
July 15, 2010

CHINA'S economy expanded by 11.1 percent year-on-year in the first half of 2010, the National Bureau of Statistics said today.

Gross domestic product reached 17.28 trillion yuan (US$2.55 trillion) in the first six months of this year, NBS spokesman Sheng Laiyun told a press conference.

http://www.shanghaidaily.com/sp/article/2010/201007/20100715/article_443171.htm

[PBS Poll-435]

1. Would probably not pass an audit.

Just sayin'.

[Better Believe It]

3. I don't think their stats have been seriously called into question by credible sources.

At least not that I'm aware of. They did have a huge job creating stimulus which kicked in big time. No tax cuts. Just jobs!

[Pirate Smile]

4. Easy to do in a dictatorship.

[pa28]

8. The government would rather have lower rates.

Missing the the official target rate is actually an embarrassment. The uncontrolled growth rate points to a policy failure so they have no reason to lie about it.

We've been throwing the kitchen sink here for more growth but the Chinese realize they have a problem so "kitchen sink" means the opposite. They've been doing everything they can to slow growth.

[DJ13]

2. Financial analysts on Wall Street will love it

Same analysts who complain about US government spending on stimulating our own economy.

[madrchsod]

5. i think they are cooking the books

[Better Believe It]

6. Just look at all of the construction going on, including the building of entire new cities!

I don't know. It might not be far off the mark at all. That's just seems like a lot of GDP growth to people living in old Europe and the old decaying United States.

[ZombieHorde]

7. China grows at an amazing rate every year. The combination of an authoritarian

communist government and Hong Kong, which is a major center for capitalism, China has a lot of economic strengths and options.

[David__77]

9. I'm happy for China's economic growth. However...

...they need to retrench and establish firmer macroeconomic controls. They need to push further the "develop the west" campaign and redirect resources to impoverished regions. They need to redirect resources for social services and environmental protection.

People doubt 11% growth, but I don't know why. China, any visitor can see, has developed by leaps and bounds. Average Chinese live much, much better than even 10 years ago.