China often underestimated its actual growth rate and, as a result, the degree by which its actual growth exceeded its potential growth, as well as all the problems associated with overheating
On July 2, 2010, China’s National Bureau of Statistics revised China’s GDP growth in 2009 upwards from 8.7% to 9.1%. However, not many people noticed that the Bureau also quietly revised China’s nominal GDP figures for 2005-2008 a few months ago.
[Reprinted with permission from The China Europe International Business School.]