Clipping the dragon’s wings

Americans may well be delighted by new figures that show China’s GDP is 40% smaller than previously thought. Has the devious Beijing government been massaging the numbers, as communist planners are wont to do? Hardly. China’s GDP in yuan terms remains unchanged. What has happened is that the World Bank has changed the calculations it uses to make international comparisons of the size of economies.

The Financial Express
http://www.financialexpress.com/news/
Clipping-the-dragons-wings/254164/

China property boom falters, but crash unlikely

High prices, rising interest rates and a government drive to cool speculation are dampening the market. Many Chinese bought property several years ago partly because of talk that preparations for the 2008 Beijing Olympics would boost prices in the capital and other cities — so now that the Olympics are near, some fear a crash may be looming

The Economic Times
http://economictimes.indiatimes.com/International_Business/
China_property_boom_falters/articleshow/2638934.cms