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Current Reform refines GDP

Popularity 7Viewed 3263 times 2014-8-20 17:17 |System category:Economy| China, economy, GDP, reform

The most familiar use of GDP is to evaluate a country's economic position in certain period. The oversimplification of GDP lies in that it is a criteria only concerns aggregate income without removing revenues from the impunities or those harmful products and services: criminal behaviors, repeated construction, excessively advanced construction, military sales and etc.

 

When measuring the truly positive GDP, not only these apparently unnecessary or even harmful GDP contributors should be expelled, but also the cost of side-effects including environmental pollution and social problems of the increasingly open and competitive market economy should be counted.

 

From the perspective of building a positive GDP, the central government plays the role of a GDP refiner by directing the recent series of administrative campaigns-anti-corruption, anti-drug, anti-trust, housing price control and etc.-which may slowdown the China's rapid economic growth but actually fasten seatbelt in a critical time full of opportunities and crises.

 

While we are still making the cake bigger, we make it more nicely.

 

(Opinions of the writer in this blog don't represent those of China Daily.)


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Reply Report 财神 2014-8-21 18:14
informative article. the gross domestic product-GDP is the mirror of economy of the country though it is complicated to measure by general.
Reply Report CAMC-Frank 2014-8-26 08:43
There is much truth in your understanding of current reform, and also some faults in your article(grammar,words...)
Reply Report wpywood 2014-8-26 18:07
CAMC-Frank: There is much truth in your understanding of current reform, and also some faults in your article(grammar,words...)
It will be easier for me to improve, if you can be more specific. Thanks.
Reply Report voice_cd 2014-9-1 11:18
Thanks for sharing your story here, we have highlighted your blog.

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