Introduction:
instead of soon becoming the largest economy in the world, China’s economy is only about a third of the size of the mighty U.S. economy.
having much lower GDP also means that China’s debt levels are actually much higher, relative to the size of its economy, meaning that its debt-fueled property bubble is much more dangerous than we thought.
Method:
Martinez looked at 184 countries between 1992 to 2008 and compared the growth of lights at night in each country to the growth of GDP that each country reported.
Autocratic countries typically reported a whopping 35% higher GDP growth numbers compared to night-time lights growth.
China’s GDP growth between 1992 and 2008 was likely 4.9% per year, rather than its average reported growth of 6.3%.
This is literally the dumbest measurement I’ve ever heard of.
Li Keqiang index or Keqiang index (Chinese: 克强指数) is an economic measurement index created by The Economist to measure China's economy using three indicators, as reportedly preferred by Li Keqiang, formerly the Premier of the People's Republic of China, as better economic indicator than official numbers of GDP.[1]
According to a State Department memo (released by WikiLeaks), Li Keqiang (then the Chinese Communist Party Committee Secretary of Liaoning) told a US ambassador in 2007 that the GDP figures in Liaoning were unreliable and that he himself used three other indicators: the railway cargo volume, electricity consumption and loans disbursed by banks.[1]
imma bank on that more than light tbh lmao
Li Keqiang is China's Gorbachev and that's why the US and the International Community have been pushing hard for him. Also funny how they like Wikileaks when it can make their adversaries look bad.
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Didn't his Communist Youth League faction just get savaged when Xi had Hu kicked out of the Party Congress in front of all those cameras?