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Fascinating research by an economics professor shows that China’s economy could be about 36% smaller than published figures suggest.

In a recent report, Harry Wu writes that there is far greater volatility combined with slower growth, partly a result of the Chinese government’s tendency to under-report inflation. Mr Wu has been compiling data since 1978, which reveals that discrepancies between state stats and his numbers are more prominent in economic downturns. Not everyone agrees with Mr Wu’s figures, but few seem to wholeheartedly condone Chinese government numbers.

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