Damn, Elon been moonlighting?
Maybe once you’ve tasted the very top, you want to taste the bottom. Wait.
That actually sounds far less than I expected.
Probably far less than it is. Number sheets coming from any non easily verifiable, complicated reporting made in China are an estimate in the favor of the reporter. Cheating one another and especially the system is a national sport.
What a fucking racist sinophobic thing to say after the North Atlantic has experienced the LIBOR scandal, the Madoff scandal, the Enron scandal, the 2008 subprime scandal, the Theranos scandal, the FTX scandal, the Volkswagen Dieselgate scandal, the drug money laundering scandal, the WorldCom scandal, the Wirecard scandal, the Hurricane Katrina fraud, the multiple COVID profiteering fraud, the revelations in the Panama Paper, the revelations in the Swiss Leaks, the revelations in the Paradise Papers, the revelations in the Bahamas Leaks, the revelations in the FinCEN files, the revelations in the Pandora Papers, the revelations in the Suisse Secrets, the Qatargate scandal, the WeWork scandal, the Jack Abramoff scandals, the kids-for-cash scandal…
And this doesn’t even get into the bog standard behavior of market manipulation by hedge funds, the theft of property from citizens by police rivaling and sometimes exceeding the annual theft of property by criminals, the billions in annual wage theft, the behavior of the North Atlantic multi-national oil companies, the behavior of the North Atlantic coal companies, the behavior of the North Atlantic weapons manufactures, the behavior of the North Atlantic war-chasing reconstruction consultants, the behavior of American monopolists, the insider trading of American politicians, the billions in legal bribery we call lobbying, Forbes literally writing an article that it was impossible to keep up with all the corporate accounting scandals so they tried to make a running list and just stopped updating it in 2002.
Fuck off with your bigoted bullshit.
As with any data out of China, it would be underestimated or unreliable, but yes, it seems like it should have been larger.
The metrics in the latest RBA chart pack were not encouraging either.
https://www.rba.gov.au/chart-pack/pdf/chart-pack.pdf?v=2023-07-18-17-40-13
You do realize that there is a financial sector that invests both domestically and internationally? If literally everything was unreliable, it would be nigh impossible for investors to turn a profit.
There is a financial sector in China, but the sector is much smaller than other countries because it is considered less trustworthy.
Not every sector of the economy is questionable, but where data influences overall metrics like GDP, there have been well-documented issues of data integrity. For example, population counts.
This research paper from 2013 shows many more examples of discrepancies.
