Moving Beyond GDP in China — The Case for Comprehensive Wealth Measures

The world is facing unprecedented challenges that call for fundamental change in the way the progress of nations is defined and measured. For the last 75 years, both in China and around the world, progress has been equated with growth in the output of the market economy as measured by GDP. In spite of its successes in meeting people’s material needs and wants, many find the dominant development paradigm focused on economic growth unfit for purpose in the Anthropocene. Climate change, especially, is seen as a reason to rethink how we measure development. The United Nations Secretary-General says that global decision making ignores the long-term consequences of decisions and that we need to assess progress based on today’s realities rather than outdated ideas. He is calling for new metrics that value life and well-being over short-term profit.

Task Force: - Topic: Nature and Biodiversity Year: 2024 Phase: Phase VII (2022-2027) Concluded