Posted on 12/12/07
China far poorer than the world thinks
Now here's another important report on China from the Carnegie Endowment. A couple of weeks ago, it was political scientist Minxin Pei and his warning that pervasive government corruption in China will bring the country's rapid economic expansion to an abrupt end. This week, it's economist Albert Keidel and his calculation that China remains poorer - far poorer - than the world thinks. China's economy, he says, will turn out to be 40-per-cent smaller than present statistics suggest.
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