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More Mis-Counting – FDI

FDI in China hit US$72.4 billion last year, up from the initially-reported figure of US$60.3 billion, according to reports. The increase is thought to be mainly due to big investments in the banking, insurance and securities sectors (an ommission in the original statistics that I noted here [1]).

In this latest case of significant mis-counting (see here for the GDP revision [2] and for other examples, including interesting analysis by Standard Chartered, see here [3]) the Houston Chronical notes:

Perhaps they will ask Ernst & Young (“Non-Performing Accountants – and Loans [4]“) to help with their counting next time. In any case, we continue to report all statistics with a pinch of salt. For added confidence, I always recommend that business plans and decisions are based, not on the results of Google searches, but on professional market research that draws on several sources, and which includes a reality check from experienced people on the ground.

If you want some research done, please let us know.

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