According to the following article, the Chinese government is - TopicsExpress

According to the following article, the Chinese government is moving away from GDP as the sole measure of progress. This may sound like a way of fudging the data or diverting the issue, but I actually think its a very good sign. Hyper-focus on GDP (which is a terrible measure of economic progress) has led to enormous malinvestment. Is that giant row of 25-story condo buildings sitting empty and useless? Who cares? The construction costs all went on last years GDP numbers, and the local mayor got a promotion. Are there 20 empty factories within a mile of my home? Too bad. While local GDP would be improved if they were in production, the wasted capital doesnt figure into GDP. Is a deadly chemical plant located right on the shoreline in the middle of a city of two million people? Sure, if a cyclone hits (as one nearly did three years ago), tens of thousands of people will die a horrid death akin to a WWI gas attack. But whichever local official approved the factory will have long-since been promoted to the Beijing central government for making the GDP numbers go up. In the context of those and countless other examples, Id say a shift away from concern for GDP would be a very good thing for China. bloomberg/news/2014-09-12/china-seeks-to-sway-focus-from-gdp-growth-with-dashboard.html?utm_source=The+Sinocism+China+Newsletter&utm_campaign=4a1ffe54a0-Sinocism09_14_14&utm_medium=email&utm_term=0_171f237867-4a1ffe54a0-29583909&mc_cid=4a1ffe54a0&mc_eid=05ed3cf001