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China’s National Audit Office Finds Yet More State Fraud

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Rupert Hargreaves
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China's rise over the past few decades into a global superpower has been staggering. GDP Annual Growth Rate in China averaged 9.7% from 1989 until 2017, reaching an all-time high of 15.4% in the first quarter of 1993. During this period total GDP has risen from $350 billion to $11.2 trillion.

However, the one thing that has held back China's ambitions is fraud. China is plagued by a reputation for fraudulent activity; a reputation that it has struggled to shake off.

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China's National Audit Office Finds Yet More State Fraud
yangzuming7777 / Pixabay

 

In October, the New York Times highlighted the problem with fake scientific data...

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Sign up now and get our in-depth FREE e-books on famous investors like Klarman, Dalio, Schloss, Munger Rupert is a committed value investor and regularly writes and invests following the principles set out by Benjamin Graham. He is the editor and co-owner of Hidden Value Stocks, a quarterly investment newsletter aimed at institutional investors. Rupert owns shares in Berkshire Hathaway. Rupert holds qualifications from the Chartered Institute For Securities & Investment and the CFA Society of the UK. Rupert covers everything value investing for Hedge Fund Alpha