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I believe parent's point was that GDP is significantly decoupled from experience of the vitality in a 'main street'perspective. In China they get high GDP growt
by tbihl 10y ago
I believe parent's point was that GDP is significantly decoupled from experience of the vitality in a 'main street'perspective. In China they get high GDP growth rates, but if the productive activity was building high rises where no one lives, we may need to reevaluate our notion of 'productive'.
- anovikov 10y agoIn China high GDP growth rate is mainly translated into moving people from village to city. It is more like: lives of both city and village people is only very slowly improving (while faster than in developed countries), but there are quickly getting more of the former and less of the latter. Only those who move reap the benefits. This process will be over soon when urbanization hits Western levels (about 10-15 years from now), then the growth rate will moderate.