The GDP fudge: China edition

For all its shortcomings, the gross domestic product (GDP) of a country remains an important barometer of its economic health, strongly influencing both private and public spending. Though conceptually simple as the total ...

Coronavirus could hobble Chinese economy at a precarious moment

This week, as the danger of the coronavirus outbreak in China became apparent, airlines suspended flights to the Chinese mainland and multinational companies shut down their activities there. We asked Stephen Roach, a senior ...

We need to modernize how we measure national wealth

I recently tried an experiment. I changed several light bulbs, and since one required a little rewiring, I sent my wife (also known as the majority shareholder) a bill for $110.50 (plus GST). In return, she sent me a bill ...

Toxic Sydney bushfire haze a 'public health emergency'

Australia's biggest city is facing a "public health emergency" over the bushfire smoke that has choked Sydney for weeks, leading doctors warned Monday after hospitals reported a dramatic spike in casualty department visits.

Facebook is free, but should it count toward GDP anyway?

For several decades, gross domestic product (GDP), a sum of the value of purchased goods, has been a ubiquitous yardstick of economic activity. More recently, some observers have suggested that GDP falls short because it ...

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