China’s economy accelerated in the first quarter of this year, expanding 5% from a year earlier as it largely shrugged off impacts from the Iran war so far.
  • Sepia@mander.xyz
    10·
    3 days ago

    Xi Jinping needs an annual GDP growth of 5% to meet China’s long-term goals. So China’s growth is always around 5%, at least according to official sources.

    Economists even within China doubt that the official statistics in China are correct. In September 2024, Zhu Hengpeng - a leading economist who worked for the Chinese Academy of Social Sciences (CASS) for more than 20 years, most recently as the Institute of Economics deputy director and director of the Public Policy Research Center - disappeared after criticizing China’s official statistics, claiming the official data is trying to gloss over the Chinese economy which is in a much worse state than the official numbers make people believe. (In the meantime Zhu works again for the Academy afaik, but he now believes the data - at least ‘officially’.)

    • Aurenkin@sh.itjust.works
      5·
      3 days ago

      Yeah I remember seeing a really interesting video about how GDP growth can be very roughly approximated by night time illumination and how a small “adjustment” of GDP growth figures can create a huge disparity over time of the real vs official GDP. Nothing really conclusive or smoking gun but it was still really interesting and it definitely seems like these figures are worthy of a healthy dose of scepticism.

    • unexposedhazard@discuss.tchncs.de
      2·
      3 days ago

      I mean sure, but the real number doesnt really matter. Its completely obvious that they are winning on every front right now because the west has completely fucked itself. How wouldnt they stay winning when they make the best solar equipment and electric cars that the entire world then keeps buying from them. The message here is: “China winning because US keeps shooting itself and all its (former) allies in the foot.”

      • Sepia@mander.xyz
        3·
        3 days ago

        … but the real number doesnt really matter. Its completely obvious …

        Yeah, reality doesn’t matter. It’s obvious anyway. We should all become Chinese, right?

        Thanks for this. (/s, just to be safe)

        • unexposedhazard@discuss.tchncs.de
          1·
          3 days ago

          Yes it is quite obvious. Almost every modern technology the average person buys these days was made in or has passed through China. It would be pretty reality defying if their economy was doing badly.

          I still would never want to live in China because their civil liberties are fucked over there, but economically they seem to be just fine.