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GrainEater@lemmygrad.ml

What's the real size of China's economy? (asiatimes.com)

submitted 5 months ago* (last edited 5 months ago) by cfgaussian@lemmygrad.ml to c/china@lemmygrad.ml

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China's economy is bigger than official GDP statistics indicate, because it uses a measurement system based on manufacturing production, under-counting services. US GDP data, meanwhile, is distorted by expensive "services" like imputed rent and legal fees.

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[–] ksynwa@lemmygrad.ml 26 points 5 months ago (1 children)

"India inching closer to China" is IMO a bigger indicator of how much of a joke these statistics are for forming meaningful conclusions rather than the comparison to US' output. India's GDP stats are total bs.

[–] cfgaussian@lemmygrad.ml 25 points 5 months ago* (last edited 5 months ago) (1 children)

"India inching closer to China"

Yeah i fear a lot of that kind of rhetoric is liberal hopium. But i really do hope India can turn things around some day. I would love to see them prosper like China. That would be a massive FU to the colonial powers, Britain especially.

[–] SadArtemis@lemmygrad.ml 11 points 5 months ago (2 children)

Agreed, even if the Hindutvas were to remain in power (though it seems that may or may not be in question soon) I would still fully hope that they prosper all the same. It's an atrocity, what this present world system continues to inflict on India and all across the global south and non-white, non-western world.

Yeah i fear a lot of that kind of rhetoric is liberal hopium.

I'd also probably not even call it that FWIW. Liberals and westerners in general don't tend to have any great love for India (rather the opposite) and south Asians in general if you ask me. If it were Indian brands suddenly competing with western ones, and if Indian (indigenous) tech industries were threatening western monopolies, they would be seething at the bit all the same.

They're just touting/exaggerating Indian success to try to diminish China. In reality, there's no doubt in my mind, they hate and seek the exploitation and destruction of both peoples.

[–] cfgaussian@lemmygrad.ml 16 points 5 months ago* (last edited 5 months ago)

even if the Hindutvas were to remain in power

I'm not sure it can get better as long as they are in power, because they are part of the problem. It appears to me that the neoliberal trend in India has accelerated significantly under their rule.

They have mastered the classic bait and switch: with the right hand they distract the people with false consciousness and a scapegoat group to blame for their problems, while with the left hand they steal the wallet right out of their pockets and give it to a small group of ultra-wealthy elites. It's a simple sleight of hand but very effective.

[–] Tankiedesantski@hexbear.net 14 points 5 months ago

If it were Indian brands suddenly competing with western ones, and if Indian (indigenous) tech industries were threatening western monopolies, they would be seething at the bit all the same.

Absolutely, just look at the Japanese example. You can be the most loyal American running dog imaginable but if your economy gets too big the Yanks will still not hesitate to cut you down to size.