September 1, 2009 | Posted by

Another confirmation of Chinese not-so-miracle growth

china-flagElectricity was not the only economic statistic not controlled / calculated by the Chinese government that showed that the 6% plus GDP growth in the first six months of 2009 (at a time when the global economy was sliding off the cliff) was an accounting miracle.  

Guangshen Railway announced its results a few days ago for the first six months of 2009: “tonnage of freight transported by the Company amounted to 26.5406 million tonnes (2008 interim: 34.5508 million tonnes).” – a decline of 23%.

To receive Vitaliy’s future articles my email, click here.

Bookmark and Share

Short URL: http://ContrarianEdge.com/?p=1208

Recently Commented

  • Jonathan Deng: One more little data to add to the China bear picture is car sales. According to data provided by GM,...
  • Jonathan Deng: To answer the question the first gentleman asked regarding warning signs, I think the warning sign has...
  • Anonymous: SOUNDS TO ME LIKE IT’S TIME TO CASH IN THE PFIZER STOCK.
  • Anonymous: Facebook and Google are very similar and will likely have a very similar cost structure.  This is why...
  • Leigh Drogen: While I tend to agree with the sentiment that the relative multiples of Facebook and Google are...

Recently Added