Prof Geraci on CGTN: China New 5 Year Plan: 2021-2025

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For the first time, China did not give 5 year GDP forecast. Why? I believe this is due to two factors. Here they are

1) Uncertainty due to Covid and because the Carbon Emission per unit of GDP is, of course, function of GDP itself. Therefore, not disclosing GDP, China retains some flexibility to achieve the target ratio

2) In addition, China has for some time already de-emphasised its focus on GDP and moved on to other criteria, such as environment protection. Little by little, keeping a low profile on GDP will also ensure that, while GDP headline maybe lower that what we have been used to, the quality of that growth can be better. Better means more inclusive, especially for low income segments of the population that will be tomorrow’s middle class.

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