China over-estimated its nominal and real growth rates by almost 2% between 2008 and 2016, with miscalculations increasing annually, said the South China Morning Post quoting a paper prepared by Hong Kong and academics for submission to the US-based think tank Brookings Institute.
According to the paper, government figures on nominal gross domestic product (GDP) starting from 2007 and the growth rate from 2008 show that the current nominal size of the Chinese economy was 18% lower than the official level at the end of 2018.
The paper, “A Forensic Examination of China’s National Account”, was submitted to the “Brookings Papers on Economic Activity”, a journal published by the US-based think tank Brookings Institute. The paper’s four authors – Chen Wei, Chen Xilu and Michael Song from the Chinese University of Hong Kong and Chang-Tai Hsieh from the University of Chicago – used a mix of economic indicators to arrive at their conclusion.
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