>>519638482
Reminder that China under reports its GDP to get WTO benefits for as long as possible as China never properly transitioned from its Soviet-era Material Product System (MPS) system of national accounts to the United Nations’ System of National Accounts (SNA) standard, where MPS accounting is only concerned with material production and services are considered costs of production and excluded by design, i.e if Soviet standards were followed bythe US national accounts, the US would yield a "net material product" of perhaps about 5-6 trillion dollars, over 80% lower than their official GDP
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>>518592355
>he doesn't know that China under reports its GDP to get WTO benefits for as long as possible as China never properly transitioned from its Soviet-era Material Product System (MPS) system of national accounts to the United Nations’ System of National Accounts (SNA) standard, where MPS accounting is only concerned with material production and services are considered costs of production and excluded by design, i.e if Soviet standards were followed bythe US national accounts they would yield a "net material product" of perhaps about 5-6 trillion dollars, over 80% lower than their official GDP
>he doesn't know that China under reports its GDP to get WTO benefits for as long as possible as China never properly transitioned from its Soviet-era Material Product System (MPS) system of national accounts to the United Nations’ System of National Accounts (SNA) standard, where MPS accounting is only concerned with material production and services are considered costs of production and excluded by design, i.e if Soviet standards were followed bythe US national accounts they would yield a "net material product" of perhaps about 5-6 trillion dollars, over 80% lower than their official GDP