For more than 40 years, China's economic growth is now reluctantly being acknowledged by the West as an economic miracle. China was reporting an average GDP growth rate of 10%, with several years above 10%. Not only that the numbers were telling, the general wellbeing of the Chinese people, but the infrastructure development of the country were also there for all to see. Still, the West is still spreading the lie that Chinese numbers cannot be trusted, the Chinese cannot be trusted. Only the fake numbers from the US and the West can be trusted. And the US economy is still rock solid, at 0.5% growth while China's economy is collapsing, at 5% growth rate.
The western media are still spreading all the lies that the Chinese economy is in big trouble while the American economy is all sound and well, despite trade numbers falling to negative, factories closing down, job losses, retail and service sectors collapsing, farmers and ranchers going bankrupt, sales of high end products falling by not wanting to sell to China.
On the other side of the fence, China is still the top trading partners of more than 150 countries around the world, Chinese EVs, mobile phones, solar panels, and consumer goods are selling like hotcakes. And Chinese trade surpluses have gone up from US$40b a month to US$100b a month. The numbers are closely monitored by the WTO and IMF and cannot be fake. China's own target for economic growth is 5% while the WTO, with its anti China biases, including all the western economic agencies are saying the number is 4.8%, with their obvious intent to write down Chinese growth. Still, the numbers are not very different.
And at the same time, India is providing figures of 7-8% growth, with all the concurrence of the western media. How real are the Indian numbers? How many countries are India's top trading partners? What are the great products that India is selling to the world other than cheap pharmaceuticals that the Americans are putting a high tariff on them? Oh, India is selling a lot of agricultural products, to who? The only item of some significance is call centres and IT services... and remittances from the Indian diaspora. Would these be big enough to justify the 7-8% growth that India is gloating? Where are the big items to contribute to the big growth numbers? Even FDI is far from what China is getting. What are the monthly trade surpluses of India compared to China's US$100b? Is India getting US$10b trade surplus per month?
How real are Chinese growth numbers versus India's growth numbers?
IMF just confirmed China's growth is robust.