Graham Allison@GrahamTAllison
Apr 11
5 tweets
Inconvenient Facts about the Chinese Economy.
The Peterson Institute’s Nick Lardy’s recent in Foreign Affairs, “China Is Still Rising,” offers a number of inconvenient facts that remind us to follow the numbers instead of the narratives.
foreignaffairs.com/united-states/
- China’s real GDP (growth minus inflation) is now 20% larger than it was before the COVID pandemic. The US economy has grown by only 8%.
- Despite narratives about weak consumption, Chinese consumption (real per capita) rose 9% last year while incomes rose 6%.
- Contrary to the belief that investors have lost all confidence, private investment increased about 10% in 2023 when excluding the real estate sector.
For more, Lardy’s article is a good read.
Graham Allison
@GrahamTAllison
Douglas Dillon Professor @Kennedy_School | Former Director @BelferCenter | Author of "Destined for War: Can America and China Escape Thucydides Trap?"
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