[h=1]CHINA STARTED ASSESSING PERFORMANCE ON WELFARE RATHER THAN GDP OVER A YEAR AGO[/h]
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17 Aug 2014 - 10:44am
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China’s President Xi Jinping, was quoted as telling his party leaders that they should not measure their success by GDP, but instead through other factors such as welfare improvement, social development and environmental indicators. [Link].
XI said this during a meeting with his party in July last year at a time when housing prices were rising rapidly, the gap between rich and poor was worsening and pollution was constantly getting worse.
Forbes wrote that many of China’s top leaders are now more willing to accept slower growth in exchange for more sustainable growth.
In the past, government officials were evaluated by the GDP growth but this has already started to be dropped from the evaluation criteria for many leaders in China.
Meanwhile in Singapore, GDP continues to be one of the most important factors chased by the PAP leaders.
All of our ministers are saying that we need continued growth to improve he lives of Singaporeans but they continue to ignore the rising income inequality, cost of living and growing unhappiness among Singaporeans.
If there was any more obvious indication that GDP is the most important KPI for our leaders, it’s the fact that their bonuses are linked to GDP growth.
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Even China has acknowledged that GDP growth is not everything, when will the Singapore leaders start to acknowledge this?
It seems to be a very ingrained ideology in Singapore perhaps starting from the time Lee Kuan Yew was in power. Even today, Mr Lee stands by the need for strong GDP growth.
On Wednesday’s National Day Dinner at his constituency, he had again highlighted the need for “higher GDP every year” He emphasized that this was the only way to improve the lives of Singaporeans.
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17 Aug 2014 - 10:44am
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China’s President Xi Jinping, was quoted as telling his party leaders that they should not measure their success by GDP, but instead through other factors such as welfare improvement, social development and environmental indicators. [Link].
XI said this during a meeting with his party in July last year at a time when housing prices were rising rapidly, the gap between rich and poor was worsening and pollution was constantly getting worse.
Forbes wrote that many of China’s top leaders are now more willing to accept slower growth in exchange for more sustainable growth.
In the past, government officials were evaluated by the GDP growth but this has already started to be dropped from the evaluation criteria for many leaders in China.
Meanwhile in Singapore, GDP continues to be one of the most important factors chased by the PAP leaders.
All of our ministers are saying that we need continued growth to improve he lives of Singaporeans but they continue to ignore the rising income inequality, cost of living and growing unhappiness among Singaporeans.
If there was any more obvious indication that GDP is the most important KPI for our leaders, it’s the fact that their bonuses are linked to GDP growth.
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Even China has acknowledged that GDP growth is not everything, when will the Singapore leaders start to acknowledge this?
It seems to be a very ingrained ideology in Singapore perhaps starting from the time Lee Kuan Yew was in power. Even today, Mr Lee stands by the need for strong GDP growth.
On Wednesday’s National Day Dinner at his constituency, he had again highlighted the need for “higher GDP every year” He emphasized that this was the only way to improve the lives of Singaporeans.
