Local governments inflated China’s GDP by $900 billion last year

[Psyops]

This OP is the typical Indian. They criticise everyone else but never look at themselves even though India has 40% of the world's poverty. If we do this, you can bet that India is doing this on a far larger scale and hiding it a lot better.

Just look how staggeringly corrupt India is as a country and as people. Their commonwealth games farce is proof how corrupt and incompetent Indians are as people. It's their lazy culture and wacky religion that makes them so incompetent. If they spent half as much time trying to improve their country like they criticising others, they would be able to solve their shameful sanitation problems.

 

[beijingwalker]

How reliable are India’s official statistics?
April 6th, 2012

Authors: Ankush Agrawal, IEG, and Vikas Kumar, Azim Premji University

Developing nations like India are data intensive: they need socio-economic information about their population to design redistributive policies.

And, given their obsession with global rankings, they also need information to compare themselves with other countries. But India’s official statistics are not free of errors.

In July 2011, the governor of the Reserve Bank of India expressed concern over the quality of statistics collected by government agencies. A few months later, the commerce secretary admitted that India’s export figures for the April–October period were inflated by US$9.4 billion due to a misclassification of certain items and data-entry errors. Not long afterward, the chief statistician conceded that the accuracy of the Index of Industrial Production is questionable. And now the Planning Commission’s deputy chairman is arguing that the National Sample Surveys systematically underestimate household consumption. Concerns have also been raised about the duplication of efforts to collect statistics across various government departments, the inaccessibility of national data archives, and the infringement of privacy by the government’s data-collection machinery. To address some of these problems the Ministry of Statistics and Programme Implementation released a new data policy in 2009 and other related rules in 2011. More recently, the government also passed the National Data Sharing and Accessibility Policy in early 2012.

How reliable are India

 

[Okemos]

Is it just me? I didn't know that provincial government stats have become official stats of the central government.

"Local governments reported a combined $9.4 trillion in economic output in 2012—11.1% higher than the central government’s final GDP calculation."

Yeah, I have no clue what's the point of the post. The published GDP data have always been from the central government, not simply combination of provincial governments' data. Plus, provincial governments' data sometime double count due to inter-governmental nature of some economic activities.

Also I would say China has not counted service industry properly. Just recently, I heard on NPR that the U.S. will use new GDP method and U.S. GDP will be increased by about 2 trillion, if I remember correctly. So accounting methods differ and GDP data has never been rock solid. GPD is just a comparative figure that people look at a country's economic trend.

 

[KevW]

WOW，9.4 trillion higher...... not impressive if it is India.


China's GDP figure is based on the data from the central government. The central government never simply adds those "inflated" figure handed up by the local government..

 

[Hellraiser007]

Just reduce the GDP growth rate of every year by 3 to 4 % from 1990's on wards and real GDP of China will be known.

 

[gpit]

Is it just me? I didn't know that provincial government stats have become official stats of the central government.

I guess the provincial gov report to the central and central gov will have its independent collection of data via different branches (customer for import and export, for instance) to verify and finalize.

In fact, if you trace it carefully, you may see it is Chinese central government who first questioned the provincial data, then the Westerners and their failed students start to go hilarious even delusive...

BTW, the central gov agrees that the methodology of data collection is not perfect... and will never be perfect but improved/ing.

Just reduce the GDP growth rate of every year by 3 to 4 % from 1990's on wards and real GDP of China will be known.

Thank you for your Indian-style math.

Is that how India got its data?

 

[Götterdämmerung]

I guess the provincial gov report to the central and central gov will have its independent collection of data via different branches (customer for import and export, for instance) to verify and finalize.

In fact, if you trace it carefully, you may see it is Chinese central government who first questioned the provincial data, then the Westerners and their failed students start to go hilarious even delusive...

BTW, the central gov agrees that the methodology of data collection is not perfect... and will never be perfect but improved/ing.

I think that inter-provincial trade are also included in provincial stats (which makes sense from a provincial POV) making their stats inflated. Once that is sorted out, we pretty much get the real picture. Maybe the central gov. should order provincial to substract inter-provincial trade when they report their stats to the public or they have to give one stats with and one without inter-provincial trade.

 

[rcrmj]

Just reduce the GDP growth rate of every year by 3 to 4 % from 1990's on wards and real GDP of China will be known.

you should really chair whatever prestigious economy institutions in the world```since you are the one with A 'brain' to work out the 'real' Chinese growth rate for like 2 decades``

man, hows life treating you? if staying in India making you self loathing and inferior complex you can apply visa to live in a better environment like all the rich Indians do?

 

[acid rain]

How reliable are India’s official statistics?
April 6th, 2012

Authors: Ankush Agrawal, IEG, and Vikas Kumar, Azim Premji University


How reliable are India

Why are you posting India related articles...did you lose your bearings? you are on the wrong thread.

This OP is the typical Indian. They criticise everyone else but never look at themselves even though India has 40% of the world's poverty. If we do this, you can bet that India is doing this on a far larger scale and hiding it a lot better.

Just look how staggeringly corrupt India is as a country and as people. Their commonwealth games farce is proof how corrupt and incompetent Indians are as people. It's their lazy culture and wacky religion that makes them so incompetent. If they spent half as much time trying to improve their country like they criticising others, they would be able to solve their shameful sanitation problems.

Ha haha ha, We have a really pissed out Chinese dude here, go cry us a river Chinese dude...no one gives a F.

 

[Hellraiser007]

you should really chair whatever prestigious economy institutions in the world```since you are the one with A 'brain' to work out the 'real' Chinese growth rate for like 2 decades``

man, hows life treating you? if staying in India making you self loathing and inferior complex you can apply visa to live in a better environment like all the rich Indians do?

Thank you for your suggestion ....

If the local govts inflation is in such a huge scale and they are doing it for promotions etc, at the same time they are building some infrastructures just to make sure the growth is high, one wonders about the stats of GDP coming from china.

 

[timetravel]

China's real economy is from 2.5 to 3.5 Trillions... Not a single penny more.

 

[HongWu]

Indians faked their stats for years... now everybody found out and the Indian rupee suddenly collapsed to 70:1 against the dollar

Humiliated Indians can only delude themselves even while Chinese yuan is at an all time high of 6:1 against the dollar

 

[kena]

I think that inter-provincial trade are also included in provincial stats (which makes sense from a provincial POV) making their stats inflated. Once that is sorted out, we pretty much get the real picture. Maybe the central gov. should order provincial to substract inter-provincial trade when they report their stats to the public or they have to give one stats with and one without inter-provincial trade.

Chinese must be really rich. They now hire German and American lobbyists. Of course, like all things Chinese, the quality is crap.

 

[Truth Finder]

@Hellraiser007
Bro, you can't wrestle with a pig because you will get dirty but the pig will enjoy.
The whole world knows what mayhem is going in Chinese economy. This is getting clear with every passing day. Let it die in peace.
Be patient and wait for some years. Inevitable is coming. Bluffs are getting caught.

 

[Pulsar]

Those we had travelled to both China and India and seen the two countries with their own eyes would certainly know which one is a big liar and an inflated balloon by the west.

Oh heck! The damn India syndrome again!! Can't you guys leave out India for a change? I thought this thread was about China? Paranoia about India seems to have struck the Han psyche in a big way!