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Statistical demotion

15 November 2007 By Edward Hadas

The IMF says the world economy grew by 5.4% in 2006. But it relies on a model of purchasing power parity. Investors should be using market values of currencies. That gives a growth rate of 3.8%. The IMF s model also uses bad assumptions. China s PPPGDP is about to be cut in half.

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