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Last updated at: (Beijing Time) Friday, January 10, 2003
AP Corrects China Economy Story
The Associated Press has admitted it inaccurately quoted an economist from Credit Suisse First Boston in a recent story about China's economy.
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The Associated Press has admitted it inaccurately quoted an economist from Credit Suisse First Boston in a recent story about China's economy.
According to a report released on the leading U.S. newswire, Prasenjit Basu told an economic conference that China is heading toward an economic crisis and is ��at a potential crisis point��. But Basu's actual words were, ��in the medium to long term, China is a potential crisis point for the world economy��.
The AP says it also made a mistake in directly quoting Basu as saying, ��The over-investment by China has reached a level where it cannot be sustained by any economy.�� This was in fact an AP reporter��s paraphrase of Basu's remarks and should not have been contained in quotation marks.
Basu is chief economist for Southeast Asia at Credit Suisse First Boston. But the AP story said incorrectly that he was chief economist of the firm.
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