XI’S GOTTA HAVE IT: How Bad Is China’s Economy? The Data Needed to Answer Is Vanishing.
Not long ago, anyone could comb through a wide range of official data from China. Then it started to disappear.
Land sales measures, foreign investment data and unemployment indicators have gone dark in recent years. Data on cremations and a business confidence index have been cut off. Even official soy sauce production reports are gone.
In all, Chinese officials have stopped publishing hundreds of data points once used by researchers and investors, according to a Wall Street Journal analysis.
In most cases, Chinese authorities haven’t given any reason for ending or withholding data. But the missing numbers have come as the world’s second biggest economy has stumbled under the weight of excessive debt, a crumbling real-estate market and other troubles—spurring heavy-handed efforts by authorities to control the narrative.
China’s National Bureau of Statistics stopped publishing some numbers related to unemployment in urban areas in recent years. After an anonymous user on the bureau’s website asked why one of those data points had disappeared, the bureau said only that the ministry that provided it stopped sharing the data.
The disappearing data have made it harder for people to know what’s going on in China at a pivotal time.
China’s economic stats were almost certainly no good even when they did publish them. So my takeaways are that the fake figures needed to cover for the country’s actual performance became too ridiculous to be believed, and that Xi needs trade negotiations to succeed.