Thread by @MGSchmelzer

Are we moving closer to the end of GDP?

For the first time since 1990 China does not publish a GDP growth target. It argues that instead the government will “give priority to stabilising employment and ensuring living standards”. Short history thread /1

theguardian.com/world/2020/may…

However, this move away from growth targets signals more the uncertainty about future growth rates, Chinas likely failure to achieve its pledge of a doubling of GDP from 2010 to 2020, and social unrest throughout the country. /2

Interestingly, Western nations also had growth targets: Back in 1960 the OECD pledged to increase its GDP by 50% within a decade and in 1970 by 65%. The second target could not be achieved - and lead to end of Cold War GDP-targets. /3

OECD nations also abandoned growth targeting when their fast growth stopped: in the crisis-ridden 1970s. However, this has not lead to an end or reform of GDP or the growth paradigm - and it will not in the case of China. Not of itself - for this, it needs political movements. /4

Nonetheless, China abandoning growth targeting might open a window of opportunity for moving to beyond GDP and postgrowth frameworks at the international level. @oecd_naec @ProfTimJackson @DianeCoyle1859 @g_kallis @parents4future @postgrowth @WEAll_Alliance /5

For these historical developments, check out my book.

By the way: Does anyone know of a good account of growthmanship in China? /end

cambridge.org/de/academic/su…