Evidence-based decision-making in modern economies is unthinkable without statistics. This applies a fortiori to monetary and financial stability policies. The financial crisis has revealed information gaps that we have to close while also preparing ourselves for future challenges. This is best achieved through creating a wide range of economic and financial statistics that are mutually consistent, thereby eliminating contradictory signals due to measurement issues.
By 2010, China was producing more than that volume of steel products each month, and accounted for nearly half of global crude steel production. Virtually all of this steel is consumed within China, to build new cities and transport infrastructure. Currently, steel consumption in China is nine times higher than that of the United States.