Chinese Economics Thread

[mossen]

Without a benchmark, how do you evaluate local officials.

You can evaluate officials on a range of metrics, such as anonymous surveys on corruption, air pollution, even fertility rates if you want to go for that. GDP targets are silly. Sometimes you have to do tough reforms which will lower GDP growth rates in the short-term to boost it in the long term. For example, China's bloated housing sector. By putting out elevated GDP targets you're undercutting such efforts and local officials are encouraged to forget longer-term issues in favor of short-term GDP targets.

 

[mossen]

It would hurt China allright. It is just that it would hurt the West that much more.
This is why they won't try to forcibly disconnect its economy as quickly as they did with Russia but do it way more slowly.

All the business that has been leaving China would have left anyway due to rising wages. For e.g., most textiles mfg is low productivity, low wage work. Bangladesh can have it. Instead of exporting textiles, China will increasingly export EVs. Which is better for building a rich society?

 

[KYli]

You can evaluate officials on a range of metrics, such as anonymous surveys on corruption, air pollution, even fertility rates if you want to go for that. GDP targets are silly. Sometimes you have to do tough reforms which will lower GDP growth rates in the short-term to boost it in the long term. For example, China's bloated housing sector. By putting out elevated GDP targets you're undercutting such efforts and local officials are encouraged to forget longer-term issues in favor of short-term GDP targets.

China evaluates officials from all of above including the GDP targets. Not having a GDP targets means local officials don't have to do anything. Air pollution without factoring in GDP means no growth no pollution. Low housing price without GDP metric could mean no infrastructure. High fertility rates without GDP metric could mean people are living in extreme poverty.

 

[NiuBiDaRen]

https://twitter.com/i/web/status/1499628060702031873

Oof

 

[Mountain]

https://twitter.com/i/web/status/1499628060702031873

Oof

Good move by China n Russia. China knows Russia is more reliable partner.

 

[xypher]

China evaluates officials from all of above including the GDP targets. Not having a GDP targets means local officials don't have to do anything. Air pollution without factoring in GDP means no growth no pollution. Low housing price without GDP metric could mean no infrastructure. High fertility rates without GDP metric could mean people are living in extreme poverty.

I think the best would be to use a compound metric that best encompasses the current challenges. Federal government should spend some resources to come up with such a metric, it could be incredibly useful.

 

[Tyler]

 

[KYli]

I think the best would be to use a compound metric that best encompasses the current challenges. Federal government should spend some resources to come up with such a metric, it could be incredibly useful.

I think the Chinese government is also using big data, supercomputer, and satellite to evaluate local officials. However, I don't know how far down the road they have adopted such metric yet.

 

[Suetham]

China is reducing dependency on imported soy beans. In year 2021, while meat and dairy product output reached a historic high, soy bean import dropped 3.81 millon tonnes to 96.52 millon, from over 100 millon tonnes in year 2020.

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[Tyler]