Today’s post is a crash course in economics (for people who don’t like economics). The truth is that we get a lot of numbers thrown around in the media about China, but I don’t think they are as meaningful as CNN or Fox news want you to think. Let’s get one thing clear straight out of the gate, China is obsessed with GDP. You can’t go more than a few days without seeing it as some headline on People’s Daily, and I was on the look out for parades or fireworks the day China passed Japan to become the world’s second largest economy. Virtually any govt. promotion relies on improving GDP and little else. So what exactly is GDP? I know it’s a figure we […]