And invites nuclear retaliation back from the United States
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- Thread starter bd popeye
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I guarantee you they weren't "invited to attend". What likely happened is, China didn't bother to take the initiative to invite them at all in the beginning and they pushed to get an invite and China was like "uhhh, sure I guess." Now, they're flaunting that they might not attend in order to appear self-important in a world that is materially rapidly diminishing their real importance. It's their typical MO.
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Wang Yi accused of aura farming.
I'm too lazy to do the math but lets just say this is true. So what? 27 countries vs 1 country isn't the flex they think it is.
I mean if your energy prices have dramatically increased, then it stands to reason that these inputs are factored into the cost of goods produced and inflates the on-paper value of this production which then gets added to the GDP.
Edit: Also, even putting pure raw manufacturing power aside, it's hard to conclude that the EU has a stronger economy than China when even the entirety of its digital services space depends on US companies when China has a full spectrum suite of digital services that matches everything the US has created, 1 to 1, created by and run by Chinese companies. Really this GDP differential is just a reflection of energy costs as I stated above, ECB money printing activity over the last decade and their hawkish interest rate policies. Even Trump has bitched about this.
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This is what deflation does to you. China has deflation and thus essentially losing GDP growth. Its nominal growth is lower than real growth thanks to deflation.
We really need to learn to stop caring about GDP
Why? Because it's measured in USD.
Currency fluctuations totally distort the number every year. And America's USD hegemony means their paper tiger economy is totally inflated.
GDP is not a good indicator of how much a country produces, or how much influence it has in the world.
I read that so far only Indian sources have reported it. No one else to confirm yet.
But we will wait and see first for any updates. Appreciate anyone to give us live updates since this is a rather serious issue.