Coursework: The quality of China's GDP

Date: 1-29-2011

My name: Liu Zhao Xiong (VINCE)

Title of article:         China GDP to Grow 8.7% in 2011, Down From 10%, World Bank Says

Date of article: January 13, 2011

Source of article:

Author of article: Ian Katz

Relevant section of syllabus: GDP , inflation, hard currency,

Word Count: 727

                The quality of China's GDP

GDP is the market value of all final goods and services produced within a country in a given period of time. It is often positively correlated with the , alternative measures to GDP for that purpose.It is generally expressed a country's wealth in the year the total output, the performance of the merits of the living conditions of people, so that countries attach great importance to the case of GDP to complete.

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The fundamental problem calculating GDP is the price is right, wrong price can not figure out the correct GDP; when the planned economy all wrong, it is not possible to calculate the planned economy GDP. For example the Soviet-era money can not be freely traded commodity, and the money does not reflect the prices of commodities; when the Soviet reformed, all of a sudden drastic devaluation of deposits of residents, the residents of the great loss. The basic reason is that money can not measure the value that can not be a free exchange of money, its true value is ...

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