tag:blogger.com,1999:blog-13378665.post113532347889936712..comments2024-03-01T16:32:41.076+08:00Comments on Sun Bin: Implications of China's GDP revisionSun Binhttp://www.blogger.com/profile/08093210384069958083noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-13378665.post-1135486848471082542005-12-25T14:00:00.000+09:002005-12-25T14:00:00.000+09:00It is probably still inaccurate. But it is the onl...It is probably still inaccurate. But it is the only thing we can work with. (I guess even the GDP # in US has error, the difference between China and US is the range of error?)<BR/><BR/>However, the new # corrected one of the major mistake (maybe a deliberate one) of the old one.<BR/><BR/>As I said above, the numbers are mainly useful for indicating:<BR/>1) where the GDP is roughly<BR/>2) what is the trend based on the same definition.Sun Binhttps://www.blogger.com/profile/08093210384069958083noreply@blogger.comtag:blogger.com,1999:blog-13378665.post-1135438988700057032005-12-25T00:43:00.000+09:002005-12-25T00:43:00.000+09:00Any statistical figure coming from the state stati...Any statistical figure coming from the state statistical apparatus is inherently suspect. What makes this figure any less inaccurate than past numbers? <BR/><BR/>RichAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13378665.post-1135363614428383522005-12-24T03:46:00.000+09:002005-12-24T03:46:00.000+09:00icetea, it is more like an adjustment of an error ...icetea, it is more like an adjustment of an error on the previous method.<BR/><BR/>in the old planning economy, many small businesses were not counted and the error was small because these businesses were very small (say<1%). but time has changed, they had long become a significant percentage, now 17%. so it is neccesary to adjust them.<BR/><BR/>however, there might still be error, such as under-reporting for the purpose of tax evasion. but this should matter less when we compare china with india or brazil, as it happens in many other developing countries as well.Sun Binhttps://www.blogger.com/profile/08093210384069958083noreply@blogger.comtag:blogger.com,1999:blog-13378665.post-1135352146557350892005-12-24T00:35:00.000+09:002005-12-24T00:35:00.000+09:00Actually i worded it badly.What i meant was China ...Actually i worded it badly.<BR/><BR/>What i meant was China trys to manipulate the numbers to artificially lower the money supply in proportion to the GDPAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-13378665.post-1135351205262427022005-12-24T00:20:00.000+09:002005-12-24T00:20:00.000+09:00Hi Sun Bin, I've just recently started to get inte...Hi Sun Bin, <BR/><BR/>I've just recently started to get interested in international economy and China in particular.<BR/><BR/>And I find this "GDP revision" very interesting. How could a country just revise its GDP - is it just an adjustment for error or China is trying to print money to solve the problem (what ever that might be)?<BR/><BR/>I am nascent to the world of economy, i would greatly appreciate if you or anyone can provide useful comments and/or point me to useful resource.<BR/><BR/>ThanksAnonymousnoreply@blogger.com