China’s Growth Not All About GDP
Statements from China’s President Xi Jinping indicate that fast economic growth is not all that the Chinese government cares about. President Xi recently stated that officials should not be judged only on their progress in boosting China’s GDP.
The Xinhua News Agency reported that Xi instead discussed what the Communist Party should be focusing on including improving people’s quality of life, the environment, and social development.
In May, Xi also commented that China is not going to sacrifice the environment just to increase short-term growth. At the same time, China is experiencing its worst credit crunch in more than a decade, so they are reevaluating things.