{"id":33579,"date":"2017-01-20T08:18:00","date_gmt":"2017-01-20T08:18:00","guid":{"rendered":"https:\/\/prelive.ceosuite.com\/blog\/chinas-best-interest-does-not-include-obsessing-over-gdp-2\/"},"modified":"2026-09-29T06:17:24","modified_gmt":"2026-09-29T06:17:24","slug":"chinas-best-interest-does-not-include-obsessing-over-gdp-2-2","status":"publish","type":"blog","link":"https:\/\/prelive.ceosuite.com\/en-sg\/blog\/chinas-best-interest-does-not-include-obsessing-over-gdp-2-2\/","title":{"rendered":"China\u2019s Best Interest Does Not Include Obsessing over GDP"},"content":{"rendered":"\n
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\n China\u2019s Best Interest Does Not Include Obsessing over GDP<\/h1>\n \n
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\n Jan 20, 2017<\/span>\n <\/div>\n <\/div>\n
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China\u2019s leadership has always seen gross domestic product (GDP) numbers as the most important indicator of their ability of govern; thus their whole apparatus does whatever it can, in terms of policies, to make sure a politically acceptable growth rate is achieved.<\/p>\n

With a persistent slowdown, the government has to adjust its target to a maximized but achievable goal. Between 2010 and 2015, the world\u2019s second-largest economy witnessed a steady slowdown, with annual percentage growth rates of 10.5, 9.5, 7.9, 7.8, 7.3 and 6.9, respectively. Averaged annual GDP growth rates between 1989 and 2009 were around 10 per cent.<\/p>\n

Last year, the government set a range of 6.5 per cent to 7 per cent as a growth target, the lowest in decades. As expected, China is on track to meet that 2016 goal after three straight quarters of 6.7 per cent expansion.<\/p>\n

However, such growth was achieved with an expansive fiscal policy, higher government spending, a housing rally, ultra-loose monetary conditions and record bank lending, which have also led to an explosive increase in debt.<\/p>\n

Reference: www.scmp.com<\/p>\n

Jan 20, 2017<\/span> <\/p>\n<\/p><\/div>\n <\/div>\n <\/div>\n \n

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