verage 1.200 1.000 800 600 400 200 -5% 0 2005 2006 2007 2008 2009 2010 Oct-09 Dec.09 Feb-10 Apr-10 Jun-10 Aug-10 Oct-10 Source: National Bureau of Statistics, J.P. Motgan Securities, LLC. Source: BCA Research, ISI Group. Some clarifications are in order. First, inflation in China is mostly related to foo

xperts to obtain advice on economic policy. Sometimes CASS even publicly corrects elements of the administration. For instance, it has accused the National Bureau of Statistics of inaccuracies in calculating the rate of inflation. The deference given to experts began with Deng Xiaoping, who sought to replace the emphasis