Dictatorial Data

Chinese macro releases are a bit of a rabbit hole. Beijing leaves a lot to the imagination, and macro watchers are an imaginative bunch. As ever, it's important to emphasize that the data isn't "made up." That's a canard. A funny canard at the heart of which sits a kernel of truth. But a canard all the same. You can go to the NBS's website and download most of the figures used to tally the aggregates and generally speaking, it's all going to add up. That said, I get the chuckles a little bit w

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