Money
Frank Dikötter says China’s growth targets act like quotas, encouraging GDP ‘for its own sake’
Triggernometry
How China Fakes Its Success with Frank Dikotter
""When you have a figure of 5% GDP, which we must achieve, that's a quot you will and must achieve 5% GDP.""
Frank Dikötter argues that China’s headline growth targets function like Stalinist-style quotas for officials and localities, creating pressure to hit a number regardless of demand. He suggests this incentivises construction and other activity that can be counted as GDP even if it produces empty or underused projects.
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Triggernometry