Agree, In US, the GDP is used mainly to measure financing.
Also, How China count GDP and US count theirs are different
Chinese Economics Thread
- Thread starter Norfolk
- Start date
Agree, In US, the GDP is used mainly to measure financing.Completely agree.
GDP calculations, especially nominal GDP calculations have always been a sham. I mean if you look at the calculations, an active cancer patient adds more to he GDP than a chip designer or a software engineer or a plumber.
GDP doesn't really measure wealth or productivity. It's used to measure mainly manufacturing. Doesn't measure services well. Efficient service actually decreases the GDP as it cuts out the middle man. Etc.
Is suspect that's why the Chinese government leaves out a lot of stuff from their GDP calculations, a lot of services don't add anything of value to the economy but pads the GDP.