2024-12-23 17:58
People need to understand how useless GDP as measure of economy. It would be one thing if we all started from the same position and then went on to produce goods and services to trade with each other.
But as it stands, some countries produce goods and services, while importing untold amount of raw material from other countries, which in turn makes up the GDP of these exporters.
Then, GDP by itself becomes meaningless because exporting oil is not the same as exporting cutting-edge electronics.