The Party is founded on lies –
For starters, Citi thinks China’s true real GDP growth rate is more like 4%, or even lower, not the 7% or so that the Chinese government reports. Their “global recession” call suggests that growth will dip to just about 2.5% by the middle of 2016. China’s growth hasn’t been lower than that since 1976, when Chairman Mao was still alive.
Via Business Insider.