Literally had this conversation with a lib cousin 2 nights ago.
"Well China has been the most effected by the pandemic"
"how?"
"Well their economy..." and then nothing specific about it.
Twitter is full of Cope with that news ... Its glorious ...
Somewhere at the NYT someone is typing "China's boom: Is their record growth actually a sign of decline?"
"China's economy rising too fast. Experts fear an integer overflow might happen!"
How to collapse China:
Step 1: :so-true: "China is going to collapse any day now!" :some-controversy:
Step 2: :wojak-nooo: "China is going to collapse any day now!" :some-controversy:
(step 2 repeats indefinitely)
Westerners will be calling it a lie when China reaches Mars at this rate.
They have nothing left but cope.
If you want to see some serious cope, take a look at the NY Times article on this.
The link is pay walled for me. Found this archive link with an older version of this article https://archive.md/Od7rk
how long until people modify the already-fraudulent "mercator" map (the one that already censors Antarctica :lmayo: ) and also cut out China in addition to it?
I predict within 5 years american mayos will be malding at the suggestion that China, the landmass, geographically exists
Its a technological achievement.
Just like being the first into space, or first to the moon. Not everything is about land and resources.
There will be epic amounts of cope.
Because at this rate they will get their before daddy Musk and that will make them loose their shit
But china fudge numbers unlike the west who have never ever fudged numbers
Nearly unending mileage: https://fair.org/home/nyt-china-needs-to-rethink-its-not-letting-people-die-from-covid-policy/
The argument that China should show “higher tolerance for Covid” comes down to the “punishing economic and social cost” and “pandemic fatigue” cited by the “health experts” in the September 13 Times piece. The economic cost is easier to calculate: With its zero-Covid policy, China’s GDP grew 2.3% last year, one of the few major economies to have a positive growth rate in 2020, while the US shrank by 3.5% with its lots-of-Covid strategy.
Climbing out of that hole, the US is expected to do well this year, with the IMF projecting a 6.4% growth rate. But China is expected to do even better, with an estimated 8.4% growth rate. If China is paying an economic cost for having 99.3% fewer Covid deaths, it’s not a huge cost.
The “social cost” of “pandemic fatigue” is harder to quantify. But if, like most of our readers, you live in the United States, ask yourself: Do you feel like you are free of “pandemic fatigue” because you live in a country that has a “higher tolerance of Covid”? Do you think that most citizens of China—which reopened schools for in-person learning in September 2020, not 2021—would happily exchange their coronavirus anxiety for ours?
“Misery loves company” is an old saying. It’s not a good principle for health reporting, though."
China GDP growth since the pandemic began is 5.1% and US is at ~1% lol
It gets even better. Check out this article from March 2021:
Economists are swiftly upgrading their US growth forecasts as Covid vaccinations accelerate and after Washington enacted a $1.9 trillion stimulus package that is far larger than many thought possible just a few months ago.
Goldman Sachs is calling for 2021 US GDP growth of 6.9%, the fastest since 1984. Morgan Stanley is even more bullish, predicting 7.3% growth. That would surpass the Chinese government's humble target of 6%. More importantly, these Wall Street estimates for the US' pace are not far from the 8.4% consensus forecast for China among economists polled by Refinitiv.
All of this means that US GDP growth could rival or perhaps even surpass that of China. This would be a remarkable achievement because the United States is a much more mature economy — and was blown away by China's explosive growth out of the Great Recession.
The reality looks to be way below these rosy expectations. lol
Couldn't you make an argument that covid outbreaks lower GDP? A bunch of people get covid and can't go into work so the restaurant or factory or whatever has to shutdown for a few days.
And I bet they're not experiencing a labor shortage since they didn't kill a million people like :amerikkka: did
There is no labor shortage, just an employer market unwilling to increase pay and working conditions in the middle of a poorly-handled pandemic.
TBH, GDP is mostly meaningless, but when you look at the more meaningful metrics like industral output, China is even more ahead.
Sort of, GDP is a factor that only means something in particular scenarios. Behind every concrete number there's a way to interpret it.
China has a heavily manufacturing based economy and actually make stuff so their GDP increases usually tie into gain from increased productivity. China actually has a way lower one than you'd think per capita because they're still industrializing all areas at a sustainable pace.
American GDP gains are sort of fake because it usually represents higher levels of financialization that respond less and less to real world factors. Banks loan money, package loan debt into financial products, people trade those financial products, and every step contributes to GDP. It's like 2 guys passing each other a 5 dollar bill back and forth 4 times and adding 20 bucks to the GDP.
Gains in GDP could be good or bad depending on how it's done. Invading Guatemala and forcing everyone to work on a banana plantation raised GDP because you had people exchanging money who might not have, but life under colonialism and not being able to live how you did before means this is such a radical change that GDP is a useless number here.
Any GDP measurement estimate from before the 1980s-ish are absolutely useless and neolibs like to sell optimism based on fudged numbers. Jason Hickel summarizes the flawed neolib view of it
