The New Global Concept of GDP and China’s Common Prosperity Objective: How China’s common prosperity objective can assist the world?

Abstract

The new measures of GDP have changed the concept of economic growth of a country by focusing more on SDGs than continuous economic growth. Current study aimed at finding out the similarity between the new global concept of GDP and the goals of China’s common prosperity objective. Another contribution of this research was to explore how China can play its role to assist the world in accomplishment of these SDGs. Findings of the study suggest that the new indicators of GDP are very much similar to the China’s common prosperity objective as both mainly focus on the factors related to environment protection and human well-being. Study also showed that China's adaptive governance system can play an important role in providing the guiding and exemplary path in achievement of these SDGs.