That’ll fix it!
They need to learn to how juke the stats like we do in the US.
No such thing as a bad number a little massaging can’t fix IMHO
“Inflation seems really bad”
“But TVs are cheap now right”
“Yeah, but–”
“And every household needs, like, at least four TVs right? And people probably buy roughly 3 new TVs a year, right?”
“But what about food and housing and–”
“Bro they are saving so much on TVs it makes up for it! Call it 2% for the year, done”
“I have to work 3 jobs to make rent and health insurance”
“But look at the numbers! We’re almost at full employment! Isn’t that great?”
Corruption has led the Chinese government to institute so many checks and balances on their reporting system. They don’t have the massaging flexibility that the US has.
Funny if true haha
So much for the yuan becoming the world’s reserve currency.
This is a growing problem worldwide with increasing productivity and automation.
Now don’t get me wrong I’m not a luddite. I’m all for more investment in productivity and automation but it doesn’t mean there aren’t issues.
Lots of things need to be done and their aren’t really any easy answers. Unfortunately those with a lot and those with power have more votes, so it doesn’t look like much is going to change.