China's Most Misleading Indicator

Measuring growth is only getting harder.

What goes up...

Photographer: Brent Lewin/Bloomberg

Among investors and economists who study China, few arguments are more contentious than growth -- more specifically, how to measure it. Officially, China's economy has been growing at an annualized rate of nearly 10 percent for the past three decades. But plenty of analysts will argue that those figures are highly optimistic.

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