19:58 09.08.2020

China economy cover up: Economist uncovers 'impossible' figures reported by Beijing

Source: The Daily Expess
China economy cover up: Economist uncovers 'impossible' figures reported by Beijing

China has claimed an economic recovery has already begun in the state following the outbreak of coronavirus, much to the suspicion of analysts. However, economists have claimed the figures are unreliable with some stating the economic contraction experienced by China is far greater than reported. According to analysts at Capital Economics, China’s economy contracted by 10 percent in the first three months of the year.

This comes in stark contrast to the Communist party’s reported figures of 6.8 percent.

In the second quarter of the year, China reported an economic upswing of 3.2 percent after recovery from the peak of the virus pandemic.

Against, Julian Evans-Pritchard from Capital Economics stated the actual upswing is closer to two percent.

In addition, Thanh-Long Huynh who’s company QuantCube provides an independent view of the Chinese economy, also indicated the repaid growth in the state is impossible.

He told Der Spiegel: “It is simply impossible that China has grown again.”

He indicated the economic results may be slightly embellished due to the fall in demand for imports from China’s two biggest partners – the US and Europe.

His company analyses shipping and freight data from the major seaports which shows a drop in activity.

According to QuantCube, the number of job vacancies in the labour market also remains high – a sign economic difficulties remain.

The allegations of manipulated economic figures come as Beijing has set itself a goal of doubling its economic growth between 2010 and 2020.

This month, China’s gross domestic product growth has fallen to 3.2 percent despite the ramifications of the pandemic.

Since July, 2017 the state has allegedly only dropped into the negative levels once.

Such is the surprising rate of China’s alleged economic recovery the World Bank has even readjusted its predictions for the state.

Martin Raiser, World Bank country director for China said: “It is indeed higher than what we had projected back in June when we released our Global Economic Prospects report, and we have upgraded our forecast accordingly.”

The apparent economic recovery comes amid a wave of international scepticism of the state.

Several countries have called for an independent investigation into the outbreak of COVID-19.

Telecommunications company Huawei will also be removed from the UK and Australian 5G network.

However, with Beijing focusing on restarting its economy, the state’s foreign minister has insisted China is not trying to spark any Cold War tensions with the US.

Wang Yi said: “Today’s China is not the former Soviet Union.

“We have no intention of becoming another United States.

“China does not export ideology and never interferes in other countries’ internal affairs.

“Our message is quite clear: we urge the US to stop acting with arrogance and prejudice, but enter into constructive dialogue with us on an equal footing.

“China never intends to and will never interfere in the US election and other US internal affairs.”

Recent Posts

See All
Cyberattacks on Japan coronavirus vaccine projects point to China
14:41 19.10.2020
Cyberattacks on Japan coronavirus vaccine projects point to China
This article highlights how numerous research institutions in Japan, currently working to develop a vaccine for Coronavirus, have been hit by cyberattacks believed to be sent from a Chinese hacker group. The attacks have been happening since April this year, fortunately with no reported information leaks as of yet. Japan’s National Centre of Incident Readiness and Strategy for Cybersecurity continues to urge the country’s research organisations to stay alert and be ready for more incoming attacks aiming to steal confidential information. The article crucially points out that state-led espionage is increasing as governments race to develop effective Coronavirus vaccines.
Source: The Japan Times
When the U.S. and China Fight, It Is the Environment That Suffers
13:58 12.10.2020
When the U.S. and China Fight, It Is the Environment That Suffers
This article highlights the evidence behind Trump’s recent criticism of China’s contribution to the global environmental crisis. The piece notes that steel production, coal production and coal consumption have increased in China since 2017 with this looking set to continue as the government aims to re-generate the economy following the Coronavirus pandemic. Despite President Xi Jinping’s recent pledge that China will be carbon neutral by 2060, this article suggests there is no indication that any central measures brought in by the government have sufficiently reduced the country’s pollution levels and emission rates. According to the Centre for Research on Energy and Clean Air, from June this year the country had greater coal-fuelled capacity planned than the entire current capacity of the USA and India respectively.
Source: The New York Times
Coronavirus: air pollution imporived during China’s lockdowns – and it may have reduced hospital visits
18:15 09.10.2020
Coronavirus: air pollution imporived during China’s lockdowns – and it may have reduced hospital visits
It is a fact – the lockdown in China has resulted in a reduction in air pollution and this in turn has kept many thousands of Chinese people out of hospital with other illnesses. The one ‘benefit’ to the pandemic is it gives scientists the chance to look at what happens to the environment and human health when travel and industry grind to a halt and air pollution is reduced. In China, the health burden is steep where air pollution has caused an estimated 1.24m deaths in 2017. Given such high levels, the lockdown would have been substantial and likely to have a beneficial effect on respiratory health.
Source: SCMP