精读第95期原文.pdfVIP

GDP alone can’t measure quality growth High-quality economic growth is an important element of Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era. As socialism with Chinese characteristics has stepped into a new era, so has Chinas economic development, transitioning from high-speed growth to high- quality growth, which in turn will lead to a series of drastic changes including those in the development model and evaluation index. It is important to remember that there is a difference between economic development and economic growth. The latter refers simply to GDP growth, while the former means all-round economic growth, development and improvement. High-quality economic development thus includes higher product quality and industrial level, and better industrial distribution and product structure. Scientific, effective and reasonable resource distribution is necessary to build a modern industrial structure and harmonious society, and to make economic development balanced enough to meet peoples ever-growing needs for a better life. In this sense, high-quality development refers to comprehensive improvement in economic, social and natural parameters. High-quality development based on total factor productivity and innovation is what sustainability all about. But high-quality development cannot be measured by GDP growth alone. In some cases, pursuing fast-paced GPD growth, the core indicator of economic growth, could be detrimental to quality economic development. Gross domestic product is an absolute economic quantity concept, first developed by US economist Simon Kuznets in 1934. It is a monetary measure of all final goods and services of a country in a given period (quarterly or yearly) of time. It is especially applicable to economies such as the United States, where all the products are included in transactions. With the rising polarization between the rich and poor, and worsening environ