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Is it time to cancel GDP growth targets?

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ceciliazhang

Feb 27, 2021, 12:24

(Beijng Review) At a recent high-level economic symposium, the question of whether or not countries should set GDP growth targets became a hot topic of debate.


Some economists pointed out that all of the world's developed countries and the majority of middle-income countries have abandoned GDP growth rates as a target of macroeconomic control. Should China follow suit?

The practice of using GDP as a key measure of economic development is not flawless, and some experts therefore suggest it be abandoned. However, others believe the GDP index still has a role to play in China's economy, that doing away with it would impact wide-ranging aspects of Chinese society, and that identifying a substitute index is problematic.

3 970
Newtown
GhostBuster post time: 2021-02-28 13:06

Watch out for those ultra flat merics.

markwu
GhostBuster

The West sets the standards for almost everything!

Gold was held as foreign reserves against issurance of paper currency.

US did away by replacing it with productivity. 

Then, GDP came to measure and the world scrambled up its ladder rungs.

Now, it is going to be replaced with some newly coined terms.

The East has to obey completely like its slave or be beaten flat mericlessly!