China is a riddle wrapped in a mystery inside in an enigma stuffed in a black box of economic data. There aren't many countries growing 8 percent a year that might also be in recession.Wait, what?
You heard me right: China might be in a recession today. We can't trust the country's GDP numbers. Just ask possibly-future premier Le Keqiang. In a 2007 cable made public by Wikileaks, Le dismissed China's GDP figures as "man-made." Le explained that he only looked at three statistics to gauge the health of the economy: (1) Bank lending, (2) Electricity consumption, and (3) Rail cargo volume. And these measures say China's economy is screeching to a halt.