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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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[–] 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.