China's GDP 2013 reach 9.4 trillion USD

[CCP]

There is almost twice of Japan and 5 times of India's GDP.

 

[Sakal Gharelu Ustad]

If CCP claims US$9.4 trillion GDP and 7.7% growth, that means actually it is US$7.5 trillion GDP and 6% growth.

As a rule of thumb, always reduce CCP figures by a fifth to get actual numbers. :thumb:

How does it matter given that the Chinese products fill half the manufactured goods space in the world!

Fudging a time series like GDP or growth rate requires too much effort for a very long period of time, something that no one wants to do. Also, if such broad macro figures are proved to be wrong, then it is super bad for the image of the country.

 

[Singh]

How does it matter given that the Chinese products fill half the manufactured goods space in the world!

Fudging a time series like GDP or growth rate requires too much effort for a very long period of time, something that no one wants to do. Also, if such broad macro figures are proved to be wrong, then it is super bad for the image of the country.

The only nitpick I have is that they claim construction to be part of GDP.

India, iirc, allows only real estate sales in GDP calculation.

 

[Sakal Gharelu Ustad]

The only nitpick I have is that they claim construction to be part of GDP.

India, iirc, allows only real estate sales in GDP calculation.

I have not exactly looked at how they do the calculation. There are several ways to do this accounting exercise. But I do not think it would greatly change the numbers.

 

[CCP]

The only nitpick I have is that they claim construction to be part of GDP.

India, iirc, allows only real estate sales in GDP calculation.

lie.....

In India Construction has accounted for around 40 per cent of the development investment during the past 50 years. Around 16 per cent of the nation's working population depends on construction for its livelihood. The Indian construction industry employs over 3 crore people and creates assets worth over INR20,000 crore.
It contributes more than 5 per cent to the nation's GDP and 78 per cent to the gross capital formation. Total capital expenditure of state and central govt. will be touching INR8,02,087 crores in 2011-12 from INR1,43,587 crores (1999-2000).
The share of the Indian construction sector In total gross capital formation (GCF) came down from 60 per cent in 1970-71 to 34 per cent in 1990-91. Thereafter, it increased to 48 per cent in 1993-94 and stood at 44 per cent in 1999-2000. In the 21 st century, there has been an increase in the share of the construction sector in GDP and capital formation.

wiki-Construction industry of India

 

[Apollyon]

If CCP claims US$9.4 trillion GDP and 7.7% growth, that means actually it is US$7.5 trillion GDP and 6% growth.

As a rule of thumb, always reduce CCP figures by a fifth to get actual numbers. :thumb:

$1 trillion fraud? Skeptics attack China's GDP

 

[CCP]

$1 trillion fraud? Skeptics attack China's GDP

Skeptics.....
Those figures are quoted by IMF, world bank and UN...

 

[Singh]

@Sakal Gharelu Ustad this makes sense when you have ghost towns, and excessive construction to inflate GDP. Although, most serious guys use their own indices to track Chinese GDP because it is notoriously unreliable.

 

[Srinivas_K]

Chinese GDP is not 9.4 Trillion as CCP portrays or estimates and it is far less that that.

 

[Singh]

lie.....

In India Construction has accounted for around 40 per cent of the development investment during the past 50 years. Around 16 per cent of the nation's working population depends on construction for its livelihood. The Indian construction industry employs over 3 crore people and creates assets worth over INR20,000 crore.
It contributes more than 5 per cent to the nation's GDP and 78 per cent to the gross capital formation. Total capital expenditure of state and central govt. will be touching INR8,02,087 crores in 2011-12 from INR1,43,587 crores (1999-2000).
The share of the Indian construction sector In total gross capital formation (GCF) came down from 60 per cent in 1970-71 to 34 per cent in 1990-91. Thereafter, it increased to 48 per cent in 1993-94 and stood at 44 per cent in 1999-2000. In the 21 st century, there has been an increase in the share of the construction sector in GDP and capital formation.

wiki-Construction industry of India

Let me rephrase : In Indian non-sale of real estate is not part of GDP, in China, I believe, it is. I had mistakenly used the word construction, because obviously construction will impact GDP by via of sale/purchase of cement, ceramics, steel etc.

 

[CCP]

Chinese GDP is not 9.4 Trillion as CCP portrays or estimates and it is far less that that.

Then IMF, World bank ,UN and foreign governments must be stupid.

 

[CCP]

Let me rephrase : In Indian non-sale of real estate is not part of GDP, in China, I believe, it is. I had mistakenly used the word construction, because obviously construction will impact GDP by via of sale/purchase of cement, ceramics, steel etc.

you believe....

I believe you are trolling.

 

[Srinivas_K]

Then IMF, World bank ,UN and foreign governments must be stupid.

These stats are like feel good factors, they are collected from the grass root level which are manipulated by local authorities. Even Chinese CCP officials do not take them seriously.

definitely not 9.4 Trillion, that to they are showing 7.7 % growth this year which is not possible since there is a sharp decline in exports and credit crunch happened in june july.

After 2009 the exports sharply dropped because of slow down in consumer markets like USA and Europe, these markets are still recovering.

 

[Sakal Gharelu Ustad]

@Sakal Gharelu Ustad this makes sense when you have ghost towns, and excessive construction to inflate GDP. Although, most serious guys use their own indices to track Chinese GDP because it is notoriously unreliable.

There are some artificial measures to boost the numbers a bit but this gets adjusted across years. Ofcourse, some people can disagree and use another accounting measure. For me, if you do excessive construction in some years then you would cut it down in some other years. So, you can adjust a bit across years but cannot artificially sustain high levels for long period.

 

[CCP]

These stats are like feel good factors, they are collected from the grass root level which are manipulated by local authorities. Even Chinese CCP officials do not take them seriously.

definitely not 9.4 Trillion, that to they are showing 7.7 % growth which is not possible since there is a sharp decline in exports and credit crunch happened in june july.

After 2009 the exports sharply dropped because of slow down in consumer markets like USA and Europe, these markets are still recovering.

FYI, those stats are used in all kinds of serious reports and statement.

China Exports Rise More Than Estimated
By Bloomberg News Dec 7, 2013

ps, I can not post any link some how.

 

[arnabmit]

Last year they came up with a GDP figure of more districts than there is in PRC.

These stats are like feel good factors, they are collected from the grass root level which are manipulated by local authorities. Even Chinese CCP officials do not take them seriously.

definitely not 9.4 Trillion, that to they are showing 7.7 % growth which is not possible since there is a sharp decline in exports and credit crunch happened in june july.

After 2009 the exports sharply dropped because of slow down in consumer markets like USA and Europe, these markets are still recovering.

 

[Srinivas_K]

FYI, those stats are used in all kinds of serious reports and statement.

China Exports Rise More Than Estimated
By Bloomberg News Dec 7, 2013

The reports which you come across either from western sources or from any one come from grass root level of that particular country. People do know what these chinese CCP officials do for promotions and incentives.

Some of the western companies also depend on China for showing their growth and also make their investors happy , so it also helps them if Chinese growth figures are kept large by manipulating exports.

Take an example of PISA tests which are shown as average score of all china, but infact they are from elite schools of Shangai.World believe in those reports until recently.

 

[Srinivas_K]

Last year they came up with a GDP figure of more districts than there is in PRC.

At the local level they manipulated GDP close to 1 Trillion (900 + billion approximately).

 

[CCP]

The reports which you come across either from western sources or from any one come from grass root level of that particular country. People do know what these chinese CCP officials do for promotions and incentives.

Some of the western companies also depend on China for showing their growth and also make their investors happy , so it also helps them if Chinese growth figures are kept large by manipulating exports.

Take an example of PISA tests which are shown as average score of all china, but infact they are from elite schools of Shangai.World believe in those reports until recently.

people and companies believes on those manipulated stats and increasing they investment in China for decades.
They must be stupid and you must be the only smart person here.

 

[Srinivas_K]

people and companies believes on those stats and increasing they investment in China for decades.
They must be stupid.

They invested in China because the returns are good compared to any other country at that time.