Getting economic data out of China has always been difficult. The government keeps tight control over their numbers so the message fits with their goals. Their current objective is to prove, by next year, that their $586 billion stimulus package is working.
The Chinese target for economic annual growth rate is 8%. Basically, any other number will make the government squirrely. Global economists do their best to measure China's data, but quarterly expenditure breakdowns are not provided to compare to output figures. And with exports and property values down, it is unlikely that China will meet its goal.
The Chinese premier has already publically blamed the US for causing the economic crisis, which postures the situation for the Chinese public.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment