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The Economic Indicators That Matter to China’s Next Premier
Forget GDP, it doesn’t tell the whole story about a country’s economy. Focus instead on these economic indicators: electricity consumption, rail cargo and bank loans. This is apparently what Li Keqiang, expected to take over as premier in China’ leadership transition, said at a meeting with the U.S. ambassador in 2007, according to a Wikileaks cable. The Chinese GDP figure is “man-made” and for “reference only,” he was quoted as saying. While it’s not clear whether Li stands by these views, economists say it is fair to treat the Chinese gross domestic product (GDP) with some caution. The latest data ... (full story)