He is saying the GDP is measurement of output. But, China measures input. Output can be assumed to be equal to input but it will be misleading.
For example,
Economy 1 may start with $100, and end up with $150. Value added = 50
Economy 2 may start with $100 and end up with $50. Value destroyed = $50.
So, if input is used as measure, both economies are equal. If output is used as a measure, Economy 1 did better than economy2
Output of box 1 = input of box 2
Output of box 2 = input of box 3
Output of box 3 = input of box 4
âŚ
Output of box n-1 = input of box n
Sum of output = sum of input - input of box 1 + output of box n
Diff in sum = output of box n - input of box 1, big?
If this is an assumption, it is wrong. True only if everything produced by box n-1 is input to box n. It does not account for consumption and value destruction along the chain.
Is absolute equivalence 
not an assumption.
But someone here said Europe will always support China?
If you didnât read his paper, why would you expect to understand?
Everyone likes to have their views confirmed. I am certainly no exception. However I care more about getting the reality right. Canât always win over humansâ natural cognitive biases but always willing to put in the efforts.
See the word âglanceâ?
Every mâŚf⌠have their favorite theories. No point trying to read about every one in great details.
See my word âreadâ?
Itâs fine you didnât read it. Just weird you then complained you didnât understand it. Of course you wouldnât if you didnât read.
Post World War EU is an American Creation (Marshall Plan) just like China (post 1970) . Unlike China, EU (and Canada) sides with America.
Dont believe word on EU statements. see what they do in investments and making Euro as reserve currency.
The âworld communityâ wants to leave the greenbacks!
Leave the greenbacks to ⌠where exactly? Who else has the capital market as open and deep as the US?
Dream on kids.
Crypto, hear of this?
How much do you think is the total market value of all cryptoâs combined? China alone has foreign reserves of $3T.
I have never heard of any central banks in the world buying bitcoins in big volume.
I didnât say bitcoin⌠always like that. I said women is hardworking, you conclude men is lazy. You should go back to school to learn logic.
Then tell me how much is the total market value of all cryptoâs combined? Does it even approach 0.5T? Which central bank is buying cryptoâs?
fâŚfâŚfâŚfuture possibilitiy
I will welcome this. It will be good for America. Too much power into greenbacks giving lot of lending power to FED resulting in currency distortion that we are experiencing. Hopefully, the money will be money again.
Are you sure? Without nations compel to hold greenbacks as reserve, Fed canât print $$$ like now without experiencing deflation, Trump canât have $T budget and no more sweatshops for USA. USA has been paying for real service/ products with paper from the printing press - literally just a piece of paper.
Exactly my point. I want the inefficient American business to quit the market. FEDS ability to print money has protected bad business for too long. The bad business should quit so that resources could be freed up for better utilization.