Beijing Stops Publishing “Hundreds Of Statistics” To Cover Up Economic Collapse
May 6th, 2025Via: ZeroHedge:
Regular China-watchers know very well that when it comes to local “data” reporting, China’s fabrication and goalseeking skills are second to none, and even the US Bureau of Labor Statistics is a rank amateur compared to Beijing’s National Bureau of Statistics, which tramples over actual econometric reporting with the glee of a bull in a, well, China shop. It’s why nobody actually believes any of the propaganda released by Beijing, and instead independent, private (and very expensive) third-party services for data collection and analysis are used to measure accurately the current state of China’s economy.
So imagine how bad it must be when instead of simply making stuff up, China decides that the easier approach is simply to no longer report the fake data. The best example is surely the data on Chinese youth unemployment which hit a record 22% in the summer of 2023… at which China decided to simply stop reporting it altogether.
Does it matter that a country’s economy has collapsed when the IMF or its mininons will hand out loans to it for as much as they like, as long as they like?
What’s a universal (literally meaning including everybody, world-wide and beyond, if we get that far) basic income if not the liquidation of welfare and social security, etc, to be replaced by a govt-determined amount that may or may not have any relation to how much productive work we do or have done or taxes we have already paid?
Our Great Depression resulted in our social security system. If China has a big depression, they can skip that step, eliminate their welfare system, and go straight to UBI, in which case, they can support as many unemployed as they like or starve them to death. For them as for us now, the choice is ultimately up to the IMF and its BIS master. They ultimately hold the purse strings.
The ZeroHedge hyperlink doesn’t take you to the ZeroHedge website.
Fixed. Thank you.