Tags: Economy, China, Gdp.

The World Bank reported that it overestimated the size of China's economy by some 40 percent.

China, it turns out, isn't a $10-trillion economy on the brink of catching up with the United States. It is a $6-trillion economy, less than half the US size. For the foreseeable future, China will have far less money to spend on its military and will face much deeper social and economic problems at home than experts previously believed.

Reminds me of Mark Twain's quote: "There are three kinds of lies: lies, damned lies, and statistics."

 

Submitted: Dec 31, 2007    Views: 287    Comments: 0    Likes: 2   


View Article: http://www.latimes.com/news/opinion/sunday/commentary/la-op-mead30d...


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