(May 19, 2023 at 10:33 pm)Rev. Rye Wrote:(May 19, 2023 at 11:15 am)Helios Wrote: GDP growth rates alone are not the sole indicator of a good economy and as i said China,s economy is slowing and it had to essentially burn itself out to get were it is. A reckless policy of growth at any cost is not sustainable nor good long term economics, And it's lack of a safety net is starting to bite it in the back side as pressing domestic issues crop up China has been trying to ignore.
Plus, maintaining a GDP growth rate that's too large for too long is a recipe for a recession or depression (not to mention hyperinflation), especially for developed nations. Maybe things might be different for a developing nation, but once they catch up with The West, maintaining such a high rate of growth will end up biting them in the ass.
Quote:The ideal GDP growth rate is between 2% and 3%.Your source seem to be wrong. US historical average GDP growth rate was almost 4% much higher than now.
