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1/3
Good article that makes the point that a disproportionately low share of China's GDP goes to the Chinese people, compared with the share in other countries. It also conforms with my own observations of the weird combination of national optimism... https://www.scmp.com/economy/china-economy/article/3121425/chinas-gdp-paradox-why-young-chinese-despair-about-future?utm_source=Twitter&utm_medium=share_widget&utm_campaign=3121425
Good article that makes the point that a disproportionately low share of China's GDP goes to the Chinese people, compared with the share in other countries. It also conforms with my own observations of the weird combination of national optimism... https://www.scmp.com/economy/china-economy/article/3121425/chinas-gdp-paradox-why-young-chinese-despair-about-future?utm_source=Twitter&utm_medium=share_widget&utm_campaign=3121425
2/3
and deep personal pessimism that is so common among young people here – almost the opposite of what it was like 15-20 years ago.
But of course we've known about this disparity in income distribution for a very long time. The problem is that very few analysts recognize...
and deep personal pessimism that is so common among young people here – almost the opposite of what it was like 15-20 years ago.
But of course we've known about this disparity in income distribution for a very long time. The problem is that very few analysts recognize...
3/3
that this must have significant implications for how we understand the structure of China's economy, including the meaning and comparability of its GDP numbers as proxy for value creation. The lack of curiosity with which most of us treat this is pretty astonishing.
that this must have significant implications for how we understand the structure of China's economy, including the meaning and comparability of its GDP numbers as proxy for value creation. The lack of curiosity with which most of us treat this is pretty astonishing.
