Falling prices in China are helping to mask a significantly worse economic slowdown than official figures suggest.
The spectre of deflation may be haunting China but it is also helping the ruling Communist Party meet economic growth targets in the midst of a slowdown that is significantly worse than headline national output figures suggest.
An analysis of nominal gross domestic product growth rates, rather than the headline inflation-adjusted real GDP rates reported by the government, shows that the Chinese economy slowed from quarterly year-on-year expansion of nearly 20 per cent in 2011 to just 5.8 per cent growth in the first quarter of this year.
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