There's an old saying in the world of computers and data: "garbage in, garbage out." In other words if the data you enter into a program is corrupt or unreliable, don't rely on the output! And yet when it comes to China, it appears too much confidence is placed by Wall Steet and others in "official reports:"
New York Times: "As the Chinese economy continues to sputter, prominent corporate executives in China and Western economists say there is evidence that local and provincial officials are falsifying economic statistics to disguise the true depth of the troubles. . . . "
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