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Why China canât end its romance with GDP growth target
In a battle between those who love or hate Chinaâs economic growth target, a compromise appears to have emerged.
By Tom Hancock, Bloomberg
8 Mar 2021 08:25
Image: Qilai Shen/Bloomberg
In a battle between those who love or hate Chinaâs economic growth target, a compromise appears to have emerged: a goal low enough to be more easily ignored.
Chinaâs leaders have an ambivalent relationship with the gross domestic product target they have set almost every year since the 1990s. Itâs celebrated as the key to mobilising millions of bureaucrats who compete for promotions by increasing growth rates in their provinces, and blamed for social evils from pollution to excessive investment and fake statistics.