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r2k-in-the-vortex t1_j56non6 wrote

Lulz, now that's beautiful data, no surprise whatsoever on China leading the pack. It's plenty clear on the ground that while there is plenty economical growth there, it's not anywhere as astronomical as official stats claim.

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insufferablyaverage t1_j56pzum wrote

I think light estimates say that china's GDP rn is around 12 trillion usd which is still a really high amount but nowhere near the official figures

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r2k-in-the-vortex t1_j56sfy4 wrote

Well, looking at the chart, the claimed growth over period is something like 380%, light pollution based estimate is more like 175%

The real economic growth is not bad at all, but the lies are just outrageous. The propaganda makes them think they are almost about to catch up to developed world, but in reality they have a very long way still to go while their primary drivers of economic growth are running out of steam.

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the_quark t1_j5768n1 wrote

The worst part seems to be that their leadership is reading their own press releases.

It's the same thing that happened in the Soviet Union. You are given an aggressive target for your five-year-plan. You don't make it, but you fudge the numbers a little to make it look like you did.

Next five-year-plan, they give you an aggressive target from your new baseline (that you didn't actually achieve). There's no way you're making that without fudging, so you fudge away.

Never five-year-plan, they give you an aggressive target from your new baseline - which would itself be an aggressive target for you to achieve in five years.

Repeat this enough and the official numbers become completely unmoored from reality and literally no one knows what's going on.

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General_Chairarm t1_j57ye5i wrote

You can do a five year plan but you have to hold yourself accountable to the results that you get i instead of just forcing it over and over and over ad nauseam in the name of “progress”

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United_Target8942 t1_j597bxk wrote

The results were high economic growth though. I don't think the argument works here.

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AnybodySeeMyKeys t1_j57zzq0 wrote

The problem is that they are borrowing money based on their propaganda, not based on their reality. Ugly things are beginning to happen in the Chinese economy. The fact that they've built 65 million housing units that will sit empty forever because there's not enough population to buy them should tell you everything you need to know.

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kungpaocheese t1_j58l37r wrote

And just like that we found the solution to Americas housing shortage and rental problem. Nothing remote work, really remote, can't solve.

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AnybodySeeMyKeys t1_j58mgbg wrote

Except most of those 65 million housing units are either a) Incomplete or b) falling apart due to maintenance. Just astounding malinvestment.

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kungpaocheese t1_j59p7op wrote

So its like a really big trailer park. We can work with that.

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United_Target8942 t1_j596rlz wrote

It's very uneven growth, China has a massive AIDs epidemic and many in rural China still think Mao is alive and running the show. Their economy won't be first rate unless the rest of the country develops and it sorts it's political problems out.

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[deleted] t1_j57s1sh wrote

I have lived in Beijing for 27 years. Curious how it’s pretty clear on the ground from over there in the US.

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