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To: John Hunt who wrote (22835)	11/11/1998 7:05:00 AM
From: Bobby Yellin	Respond to of 116790

biz.yahoo.com interesting referral to "bubble"

To: John Hunt who wrote (22835)	11/11/1998 7:51:00 AM
From: John Hunt	Respond to of 116790

Economic data raises China profile but also doubts biz.yahoo.com << With China's economy growing at a pace that towers above its beleaguered neighbours, President Jiang Zemin will no doubt stand tall at the Asia-Pacific Economic Cooperation (APEC) summit next week in Malaysia. But analysts wonder whether China's robust official growth of 7.2 percent year-on-year for the first three quarters has legs -- or if Jiang and his comrades are walking in platform shoes padded by dubious data. At issue are discrepancies and inconsistencies in official economic data that raise doubts about the reliability of Chinese statistics against a backdrop of mounting pressure on provinces to help meet a national growth target of 8.0 percent for the whole of 1998. ''Chinese statistics tend to have a lot of water in them,'' said Charles Li, chief economist with Natwest Markets in Beijing. One area in which the water is particularly muddy is the gap between relatively robust industrial output figures and slow electricity generation growth. Industrial output for the first nine months of this year was reported as growing 8.0 percent from a year earlier, but electricity output increased only 2.0 percent during the same period. ''They haven't squared for a long time,'' said Li. ''The growth in demand for power is much slower than industrial production growth and that presents a puzzle.'' ......... >> Another house of cards, IMHO.