A new paper has been published by Angus Maddison & Harry X. Wu looking at measuring China's economic performance. The paper has come out in World Economics.
This is a rather technical piece but it is worthy of attention.
Measuring China’s Economic Performance Angus Maddison & Harry X. Wu
Volume 9, Number 2, 2008, pages 13 - 44
China is the world’s fastest growing economy and is also the second largest. However, the official estimates of the Chinese National Bureau of Statistics exaggerate GDP growth and need adjustment to conform to international norms as set out in the 1993 System of National Accounts (SNA). This paper presents and discusses the necessary adjustments. The two major contributions are new volume indices for the industrial sector and for "non-material" services. Finally, in order to measure the level of Chinese GDP in internationally comparable terms, the authors use a measure of purchasing power parity (PPP) instead of the exchange rate.
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Great article! I am always looking for a story like this because I am also writing my own international trade blog at http://freedommarket.blogspot.com/
Keep doing great works!
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