China just reported 3.2% GDP growth in Q2. That number sounds about right to me. But I can’t help noticing that if China reported its GDP growth rates the way the US government does, it would have reported roughly 60% growth in Q2. At least I think it would have; see if you can follow my argument and correct any errors….The Money Illusion
Did China’s GDP growth 3.2% or 60%?
Scott Sumner
2 comments:
Apparently, China is happy to let America believe that its growth is lower than that of the US.
When China has 1 trillion people, its growth will be very small indeed.
Small, not slow.
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