Read on Twitter
In a few weeks markets will totally ignore this reality as analysts send out notes on China’s remarkable comeback.
"Gross domestic product in 2019 was smaller by 435 billion yuan ($67 billion) than the initial estimate released in January, China’s statistics bureau said Wednesday."
"According to the latest estimate China’s nominal GDP was 98.7 trillion yuan in 2019. The manufacturing sector recorded the largest change — with value-added output reduced by 503.8 billion yuan from an earlier estimate — followed by the finance, transportation and construction."
Yes you read that correctly: the amount by which value added output was reduced is larger than the total amount by which GDP was reduced. Statistics with Chinese characteristics.
