Year of the Rooster Rung in Cautiously by Citigroup in China

Citigroup’s China Economist Yiping Huang said recently “’There is widespread suspicion that official data underestimates China’s actual growth performance… indeed, versus the official industry-based GDP growth estimate of 9.5% for 4Q’04, our expenditure-based estimate suggests actual growth could be as high as 12% last year… which, if reliable, suggests growth in 2004 was pretty close to that achieved in 1992-94 when the economy overheated…

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