Econ stats from China

As usual, I was glossing over my favourite econ blog Marginal Revolution this morning. I came across this article on the validity of econ analyses and statistics from China. Can I just say "wow!" It gave backings to my frustrations with the western world's Chinese infatuation really nicely.

It is hardly surprising that corruption and nepotism plague most developing countries. China, even after drastic reforms in the market, it is still a very artificial kind of place to do business. Many of the economic principles don't apply directly. The author notes that the statistics western economists are collecting under the restriction of not offending the Chinese Communist Party are not reflective of the true nature of the economy. The sentence about high-up party cadres' children controling a large of the commerce is no news either.

I'm pretty happy to stumble upon this, an educational read.