So What’s The China Deal with India & Vietnam?

[below_freezing]

lol, i'm pointing towards the article (not my roommate) freeze. There are issues that are often not widely publicized for various reasons and from what I have subsequently read, it looks like the govt. is taking steps to improve the accuracy of these calculations. Anyway, I wanted to hear other opinions (from people of econ background) but so far I haven't found any. Here's another article if you want to take a look.

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China to improve GDP calculation methods
Last Updated(Beijing Time):2010-01-30 09:32

Local officials often inflate figures, causing unreliable data

China could wave goodbye to its GDP data discord as the national statistics bureau chief claims that he will unify provincial and central GDP calculation methods and improve grassroots statistical quality this year.

Ma Jiantang, head of the National Bureau of Statistics (NBS), has criticized some local officials who inflate the GDP figures they report to the NBS. The problem has affected the nation's statistical credibility and produced disunity between central and provincial data, Ma said.

The aggregate of the GDP figures reported by local governments reportedly is often larger than the overall national figure released by the NBS, arousing concerns that the local governments may have rigged the statistics to show how capable they are of managing local economy.

The new move by NBS is expected to change that, at least partially.

"That's a positive signal for macro economic analysis," said Cai Zhizhou, director of National Economic Accounting and Economic Growth Research Center at Peking University. Data accuracy, credibility and cohesion would be improved a lot if the central government can count provincial economic growth indexes directly, he said.

The statistics matter because they have a crucial bearing on the country's macroeconomic policies, Ma said at the national statistics conference on Jan 28.

According to the bureau, in the first half of 2009, the sum of provincial GDP figures exceeded the national GDP figure, calculated by the bureau independently, by more than 1.4 trillion yuan, or about 10 percent of the total GDP. In 2004, the difference was 3 trillion yuan, or 19.3 percent of the national GDP that year, which was the biggest gap in history.

Ma said that some provinces reported 18 to 20 percent year-on-year GDP growth amid the country's economic slowdown in 2009. This has raised an alarm for statisticians, because the national GDP growth in that year was only 8.7 percent.

China will release quarter-on-quarter growth data this year, which will help monitor the economy's short-term growth trend more effectively, Ma said.

"The unification and quarter-on-quarter growth data to be released will lay a foundation for making statistics more transparent, which is crucial for economic analysis and prediction," said Zhou Mingjian, an analyst with Pacific Securities.

He predicted regional economic growth data would show some declines as the central government begins to enforce the accounting rules, but the national GDP won't be affected noticeably.

But some analysts warned that if the country pays too much attention to GDP growth and continues to judge local officials' performance on local GDP growth, the problem of statistical inaccuracy would remain difficult to solve.
Source:China Daily

China to improve GDP calculation methods_Macro-Economy--China Economic Net

Is China's economy being underestimated by official statistics ?

Economists have consistently underestimated Chinese growth - The Experts | Switzer

Have we underestimated Chinese consumption?

There are just as many voices that claim China's GDP is overestimated, as there are people that claim it is underestimated. In fact, we don't know. We don't even know what the real GDP of the US is, or even India is. A more useful measure of growth is HDI increase per year.

 

[no_name]

I second that. GDP does not directly translates to soft power influence.

 

[nontaibeo]

The bottom line is Vietnam and India, can do what ever they want to do and none of China bussines.

That's fact.

 

[Jackdaws]

It is not difficult for the Chinese to manipulate figures. It generally happens in Communist countries. If in 1987 you told anyone that the Soviets were pi$$ poor in reality and the nation would collapse, the reactions would have ranged from being incredulous to recommending a shrink. It is possible that the Chinese are in the same boat.

 

[Tshering22]

The one thing that is really impressive about Chinese is their speed of manufacturing. It is blazing.

 

[Obambam]

The bottom line is Vietnam and India, can do what ever they want to do and none of China bussines.

That's fact.

wrong.

If Vietnam could, then they would have been one of the richest country in Asia already.
Vietnam also lacks economic muscle and power in politics. They are also not members of the UNSC. Now those are some facts for you.

 

[Korean]

wrong.

Right. There is nothing China can do to stop the departure of foreign manufacturers relocating to Vietnam due to rising wages and other costs.

 

[nontaibeo]

wrong.

If Vietnam could, then they would have been one of the richest country in Asia already.
Vietnam also lacks economic muscle and power in politics. They are also not members of the UNSC. Now those are some facts for you.

Vietnam could be rich if China HANDS OFF Vietnam.

Special thanks for many wars from China to Vietnam. Thanks China for BIG HELPS.

 

[Obambam]

Right. There is nothing China can do to stop the departure of foreign manufacturers relocating to Vietnam due to rising wages and other costs.

Wrong. There is nothing America or the South Koreans can do to bring jobs back home and North Korea will collapse South Korea should they unify if not remain divided at least for the remainder of your lifetime. China will also continue to diversify, spreading work into other cities and continue to supply and meeting global demands leaving the hopefuls mismatched.

Vietnam could be rich if China HANDS OFF Vietnam.

Special thanks for many wars from China to Vietnam. Thanks China for BIG HELPS.

China wasn't the one to make Vietnam poor. Blame the west and blame your poor governance for the failure of your country.
Funny you say many wars with China. Let me remind you this. It wasn't the wars with China and the effects of wars with China that made you poor. Do a search on words "Vietnam" and "war" then you will see which wars comes up first on the search engines. Now go and cry about it elsewhere and to someone else.

 

[NiceGuy]

China wasn't the one to make Vietnam poor. Blame the west and blame your poor governance for the failure of your country.
Funny you say many wars with China. Let me remind you this. It wasn't the wars with China and the effects of wars with China that made you poor. Do a search on words "Vietnam" and "war" then you will see which wars comes up first on the search engines. Now go and cry about it elsewhere and to someone else.

We don't need to blame the West any more, they're helping VN now, but China is not. CHina only wanna robe our territory, our resouces , our freedom

 

[nontaibeo]

China wasn't the one to make Vietnam poor. Blame the west and blame your poor governance for the failure of your country.
Funny you say many wars with China. Let me remind you this. It wasn't the wars with China and the effects of wars with China that made you poor. Do a search on words "Vietnam" and "war" then you will see which wars comes up first on the search engines. Now go and cry about it elsewhere and to someone else.

Not 100% China is the one to make Vietnam poor for wars, but its MAJOR on those action. We don't cry but we deal with it unlikely China less wars comparing to Vietnam but its still CRIES OUT LOUND.

China also makes Chinese and guided all Chinese to become arrogant because Han's best of the best. Truth hurts.

 

[gpit]

It is not difficult for the Chinese to manipulate figures. It generally happens in Communist countries. If in 1987 you told anyone that the Soviets were pi$$ poor in reality and the nation would collapse, the reactions would have ranged from being incredulous to recommending a shrink. It is possible that the Chinese are in the same boat.

It is even easier for India to manipulate anything, given the fact that 30% criminals residing on India parliament, elected by the credulous illiterate, and representing other criminals to manipulate to their taste.

A pi$$ poor Soviet was still 10000000000000000000000 times richer than democracy India where even today it has 2,000,000 children starved to death – never happened in Soviet.

Thus, even China is in the same boat, in the same boat with USA, it is still better than India boat.

 

[gpit]

We don't need to blame the West any more, they're helping VN now, but China is not. CHina only wanna robe our territory, our resouces , our freedom

West helping VN?

No wonder VN is so poor and can only be manipulated by other countries. You have too much your type of stupid people and ill-educated mass.

It is simply too many of you fools that any rational opinions are overwhelmed and reduced to feeble noise among vast idiots residing on your land called Vietnam.

Read this statistics from your gov to see how East is helping you instead of West.

Investment by country as of Oct 20, 2010
Countries & territories , Number of projects, registered capital ($m), Legal capital ($m)
South Korea 2,605 22,905.30 7,788.62
Taiwan 2,132 22,785.72 9,227.31
Japan 1,262 20,528.62 5,655.18
Malaysia 361 18,340.48 3,942.60
Singapore 846 17,677.30 5,620.74
US 546 16,447.99 3,290.91
B.V. Islands 477 13,878.88 4,500.52
Hong Kong 599 7,758.05 2,759.36
Cayman Islands 48 7,242.98 1,413.25
Thailand 236 5,751.71 2,441.31
Netherlands 136 5,236.65 2,273.28
Brunei 108 4,725.92 966.61
Canada 99 4,609.18 979.05
China 741 3,171.15 1,480.10
France 305 2,941.35 1,540.00
Samoa 85 2,694.95 398.45
UK 134 2,218.66 1,340.33
Kypros 8 2,210.17 751.83
Switzerland 75 1,454.76 1,029.34
Australia 233 1,228.30 526.60
Luxembourg 18 1,088.53 776.61
B. West Indies 6 987.00 246.84
Russia 68 888.72 604.21
Germany 153 813.64 408.04
Denmark 89 592.87 232.58
The Philippines 49 275.80 131.42
Bermuda 5 211.57 128.45
Mauritius 32 211.30 146.76
India 49 209.66 129.17
Indonesia 25 203.20 99.22
Italy 40 189.73 62.98
Cook Islands 3 142.00 22.57
UAE 2 128.00 26.14
Channel Islands 14 113.68 40.66
Bahamas 3 108.65 22.95
Slovakia 1 100.00 1.00
Poland 9 98.69 41.53
Laos 9 91.20 26.53
Norway 25 84.19 34.26
New Zealand 17 76.32 38.69
Belgium 37 75.73 34.57
Isle of Man 2 70.00 10.40
Turkey 7 68.20 23.36
Barbados 2 68.14 32.19
Sweden 26 66.96 20.47
Macau 8 59.20 26.10
Czech Republic 21 56.21 27.72
Cambodia 8 51.05 19.24
Belize 8 49.00 25.76
Hungary 10 45.07 8.22
Saint Kitts & Nevis 2 39.69 12.63
Liechtenstein 2 35.50 10.82
Finland 5 33.32 11.53
Iraq 2 27.10 27.10
Austria 16 26.63 5.80
Bungaria 7 25.42 22.18
Ukraine 9 23.26 12.31
Spain 17 21.04 12.17
Panama 7 19.00 7.44
Costa Rica 1 16.45 16.45
Kenya 1 16.00 0.00
Saint Vincent 1 16.00 1.45
Sri Lanka 7 13.51 6.96
Israel 9 11.80 5.91
Dominican Rep 2 11.00 3.40
St Vincent & The Grenadines 2 9.00 3.20
Cuba 1 6.60 2.20
Seychelles 2 6.00 0.80
Island of Nevis 1 6.00 1.00
Ireland 6 5.64 2.17
Oman 1 5.00 1.50
Turks & Caicos Islands 2 3.10 1.40
Brazil 1 2.60 1.20
Slovenia 2 2.25 1.02
Marocco 2 2.00 0.50
Guatemala 1 1.87 0.89
Nigeria 6 1.71 1.71
Secbia 1 1.58 1.00
Guinea Bissau 1 1.19 0.53
Pakistan 2 1.10 0.40
Maurice 1 1.00 1.00
Syria 2 1.00 0.40
Rumani 2 0.94 0.24
Guam 1 0.50 0.50
Lebanon 3 0.41 0.16
North Korea 3 0.40 0.40
Bangladesh 1 0.20 0.10
Argentina 1 0.12 0.12
Uruguay 1 0.10 0.10
West Indies 1 0.10 0.05
South Africa 2 0.08 0.08
Mexico 1 0.05 0.05
Total 11,920 191,428.68 61,552.89

http://www.vir.com.vn/data/IU/4_994IU10m.pdf

These are the top five helpers of VN. They are all East!
South Korea
Taiwan
Japan
Malaysia
Singapore

Your country will remain in poverty as long as your mass keep nuturing such mentality.

 

[scrumpy]

Vietnam's GDP isn't 0.96 trillion it is 0.096 trillion. ie. 96 billion.