I think Michael Pettis is probably worth quoting here : "In most economies, GDP growth is a measure of economic output generated by the performance of the unde

I think Michael Pettis is probably worth quoting here : "In most economies, GDP growth is a measure of economic output generated by the performance of the underlying economy. In China, however, Beijing sets annual GDP growth targets it expects to meet. Turning GDP growth into an economic input, rather than an output, radically changes its meaning and interpretation." See http://carnegieendowment.org/chinafinancialmarkets/75355 http://carnegieendowment.org/chinafinancialmarkets/75355