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Strategies & Market Trends : World Outlook -- Ignore unavailable to you. Want to Upgrade?


To: TobagoJack who wrote (1225)2/9/2003 7:04:11 PM
From: Don Green  Read Replies (1) | Respond to of 49919
 
Jay> Of course they are, just as the US hedonically massaged statistical muddle is a science fiction wrapped inside a fairy tale.

Are you overlooking the huge disparity of income and generally lack of middle class in China. Also Americans home and abroad are very quick to question their govt. in the press and in the sreeets?

Keep a smile!

Don



To: TobagoJack who wrote (1225)2/10/2003 10:57:32 AM
From: RealMuLan  Respond to of 49919
 
Jay, I agree that the Chinese gov. number of GDP has a lot of "water" in it. But on the other hand, it has NOT take into account of the "underground" economy, which is sooo prevalent in China now, simply put, cash business everywhere. How would one figures this into the GDP number I don't know, but I would say this underground economy would have cancelled out the "bogus" official number by a large margin.

One example, my brother only get paid for about 2,000 Yuan/month (around $250) for his salary. But he gives lectures, and has some other cash income that he has mid six-figures in bank account, and got a new Jetta 2 years ago, which cost him >150,000 Yuan cash. And he is NOT even a business man. A business man will be much richer. And there are millions of people like him in big cities in China. If just looking at their salary, they would never be able to afford all those big-tag items.