China just makes up its economic numbers?

This is a point we’ve long made in this space. China is the world’s Ultimate Crony Capitalist State. It is cronyism built on cronyism built on cronyism. And dishonesty is a key part of such a system.

(From Zerohedge)

“Local officials are rewarded for meeting growth and investment targets,” they said. “Therefore, it is not surprising that local governments also have an incentive to skew the statistics.”

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