Estimates abound about the rates of growth and inflation in the
People's Republic of China, but most are not internationally
comparable. This study by a distinguished Chinese economist applies
techniques which do permit international comparisons of the real
indicators of Chinese economic performance. One conclusion is that
inflation rates are higher now than had been presumed, while GDP
growth may be lower. On the other hand, estimating the Chinese GDP
at internationally comparable prices shows that the income level of
this country is vastly underestimated by official statistics. Such
conclusions are likely to change the way we foresee China's
development as a wold economic player in the years to come. The
author pleads for refining of Chinese national accounting to
harmonise it with internationally recognized systems. In addition,
he recommends that the Chinese authorities should strive for better
accuracy in their statistical sources.
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