Gaz

Inflation in China: We'll Do Anything to Kill It, Except Threaten Employment

Firstly, inflation in China is a hell of a lot higher than 4.8%, I've been here 4 years and in that time basic food items and clothing has risen 2x to 5x (for different items) IN THE LAST 2 YEARS!

Buying an apartment in Wuhan (central 2nd tier city) 2 years ago cost 2,000RMB/m2, today to buy an apartment in the same place costs 10,000RMB/m2. This is not some exception to the rule, this is happening across all 2nd level cities (Beijing, Shanghai, Guangzhou etc are not affected so much by inflation).

Whoever has been calculating inflation rates for China is obviously sitting in some stalinist government building in Beijing shielded from real life.