We live in a world economy.  What happens economically in the U.S. and China and emerging nations, what they say is their gross domestic product (GDP), or economic output, affects the world economy in various ways, all of which are important in understanding trade imbalances, money movement, currencies, etc.  When nations skew their reporting, it is a manipulation that affects these actual economies and decisions that countries make about their own economic policies.  Fudging the numbers in any country can affect our personal economies that can result in disastrous decisions we make.

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TN has long-held that as a Technocracy, China was faking economic data about its fully-engineered society. This is a natural result of insisting that your predicted outcomes must be correct, so data to the contrary is simply ignored. In short, the Technocrat mind cannot be wrong, so always make it look ‘right’. ⁃ TN Editor

China, Russia and other authoritarian countries inflate their official GDP figures by anywhere from 15 to 30 percent in a given year, according to a new analysis of a quarter-century of satellite data.

The working paper, by Luis R. Martinez of the University of Chicago, also found that authoritarian regimes are especially likely to artificially boost their gross domestic product numbers in the years before elections, and that the differences in GDP reporting between authoritarian and non-authoritarian countries can’t be explained by structural factors, such as urbanization, composition of the economy or access to electricity.

Martinez’s findings are derived from a novel data source: satellite imagery that tracks changes in the level of nighttime lighting within and between countries over time.

George Orwell once said that “if liberty means anything at all, it means the right to tell people what they do not want to hear,” a quote that Martinez says “summarizes the spirit” of his project.

“The key question that the paper tries to tackle is whether the checks and balances provided by democracy are able to constrain governments’ desire to manipulate information or, more specifically, their desire to exaggerate how well the economy is doing,” Martinez said via email. “The way I try to answer the question above is by comparing GDP (a self-reported indicator, prone to manipulation) and nighttime lights (recorded by satellites from outer space and much harder to manipulate) as measures of economic activity.”

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How GDP is calculated and manipulated important see 2013 new way to calulate U.S. GDP under O administration:

 https://seekingalpha.com/article/1368001-u-s-governments-new-way-of...

 GDP per capita measurement would most definitely lower China's economic well being. Sorta don't you think?

Truth be told GDP measurements are highly prone to manipulation. Suspect that those who bet the markets have their own ways of figuring out truths.

In general, governments lie a lot.  America is not different.  And I'd love to see what the increase in government size took place in the US between 2007 and 2016.

In answer to Eric's question, we could not find statistics that covered only that period but these graphics might give you an idea on how much government grew in that time period (remember, the debt was just under $1T when Bush left office and the dems screamed bloody murder about it.  When Obama left office, the debt was over $19T.  That is one heckofa increase!  And to be sure, it will be rising again this year due to the ridiculous budget Congress passed.  For a more indepth opinion, go to Forbes Advisor Network

Now this is interesting. I, like others, have put the Obama years in the rear view mirror and I had forgotten about the enormity of the rising deficit.  Thanks to AFA for that link to Forbes. Since it was written in 2016 we have seen what President Trump has done to correct the problem. Most important is his reduction in taxes on business that is bringing jobs back to our country and the current re-organization of the trade imbalance that will be fixed with increased tariffs on China. Those who wail about that are the same ones profiting from that trade imbalance

Incredible information.  Many thanks.

This is off topic of GDP.

However in the interest of transparency for AZ spending check out http://openbooks.az.gov/

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