huangthomas

On China's 8.9% GDP Growth

Tony:

Mathematically you are absolutely correct. Culturally you a little off. 8.9 is a "correct" number. "9" is a number revered in Chinese culture. Phonetically, 9 means long, forever..... Chairman died on September 9 (9.9) suggesting he would be remembered, worshipped forever. He returned to Beijing in 1949 triumphantly on September 9. When Chinese central bank raise the interest rate, it is by 0.18, 0.27, 0.36, 0.45%..... (not by 0.25, 0.50, 0.75%...).They are all multiple of 9. In China, culture is more important than mathematics.