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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (25146)	3/8/2005 8:18:34 PM
From: MJ	Respond to of 116555

I assure you I am not going to spend a lot of time observing on this------rather focus on the things I can observe and take action on. Actually, I am not re subscribing to the service that sent this missile to me------they are imo a racket----as they are continually sending solicitations for someone else's site that is just the 'in site' to advise you and a little pun here to give you 'insight'. mj

To: RealMuLan who wrote (25146)	3/8/2005 11:22:52 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

[China]Inflated growth figures under fire March 9, 2005 The mainland's top statistician has vowed closer scrutiny of economic figures from local governments after a tally of the data dramatically overstated national economic growth last year. When added up, provincial figures for gross domestic product put economic growth at 13.4 percent, 3.9 percentage points higher than the National Bureau of Statistics' official estimate of 9.5 percent, Xinhua quoted bureau director Li Deshui as saying. ``For quite a few years, the GDP figures reported from the county-level governments across the country have remained about six percentage points higher than the national counting,'' Li was quoted as saying. ``No wonder there are always some people suspicious of China's statistics,'' Li said. Many economists question the reliability of the economic data, saying that local governments often inflate their figures to win political favor for delivering high growth. Last month, key provincial and city governments said they had cut their growth forecasts for 2005, citing the need to cool down and streamline local economies in line with central government efforts. The capital, Beijing, claimed growth of 13.2 percent last year and is aiming for 9 percent in 2005, while the booming province of Guangdong set a target of 10 percent, down from the 14.2 percent growth reported for 2004. The statistics bureau says it can adjust local data for such exaggerations but it does not say how it does so. Li said ``independent investigation teams'' collected their own data for the bureau, which then used internationally accepted methods to produce a final GDP figure. On Monday, Li pledged to improve the reliability of the country's data by boosting internal procedures and more closely auditing the provincial data, Xinhua said. In his annual speech to parliament Saturday, Premier Wen Jiabao called on local governments to improve the quality and efficiency of their economies rather than blindly chase high growth figures. In a separate report on the economy, Xinhua said polluting factories will have to undergo stricter assessments as the government tries to limit the country's already severe environmental damage. Plants producing steel, cement, aluminum, iron alloy, calcium carbide and coke must meet environmental regulations or face closure, said State Environmental Protection Administration (SEPA) Vice Minister Pan Yue. ``Projects that have been completed and put into operation illegally must upgrade their facilities in line with environmental protection regulations within a limited period of time or they will be shut down,'' Pan said. With its land and water resources largely contaminated and air quality that puts six mainland cities among the world's top 10 most polluted, experts have warned that the central government requires more urgent action if it wants to control the fallout. Last year, SEPA launched a nationwide campaign to clean up manufacturing plants that breached environmental regulations, halting the construction of 139 projects worth billions of dollars, Xinhua said. In January, the agency ordered a halt to 30 large-scale construction projects for failing to file environmental impact statements. It also shut down more than 10,000 polluting enterprises from April and November last year. REUTERS, AGENCE FRANCE-PRESSE thestandard.com.hk