Tag Archives: China

about GDP

Happen to see this:

In nominal terms — the most appropriate measure when judging an economy’s global impact — India’s output is one-fifth that of China’s. India makes up a mere 2.5 per cent of global GDP against a hefty 13.5 per cent for China. If China grew at 5 per cent annually, it would add an Indian-sized economy to its already hefty output in less than four years. Saying India can match this is like saying a mouse can pull a tractor.

Then quickly checked China's GDP data...almost doubled since 6 years ago? (2009-2015). It is not just the math thing... not only add another India, China has already added another Japan-size economy. But wait, what does GDP mean for everyone?

That's like the question I had when I was wandering in streets in Tel Aviv...How should we account for economic growth? Especially for a big and quite unbalanced economy like China. My generation is not feeling stable -- so many people have to leave their hometowns to make a life either in Big Three (Beijing or Shanghai or Guangzhou/Shenzhen). Given another decade, how much worse could it even be?

Also wait... when US was at 10T China was not even 2T (2002)... now China/US is 10/17. Who can conclude that India cannot grow like China?