TheImmortal
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GDP is all bullcrap numbers which mean very little in reality. Pople should look into how GDP is calculated. ( it includes money lent into the economy, so if the government borrows money and spends it in the country, then the GDP goes up)
Trade balance, industrial output and foreign debt are much more informative.....
You do realize debt has been used to fuel economic growth in industrialized nations for a several decades now? You think China grew on liquid assets? Laughable
It makes plenty of economic sense for a government to borrow at X% if it can generate a return (economic output) greater than the rate it borrows.
This is basic economics, so no GDP is not “bull crap”, it shouldn’t be taken in vaccum and one year should be analyzed in relations to last 5 and 10 in order to confirm over arching trend. Furthermore, adjustments should be made when the country in question is experiencing hyper inflation relative to the benchmark currency (USD).
Nonetheless, it is a valuable benchmark of economic output around the world. But no indicator should be taken by itself with no other data. That is basic science and economics.