TY - JOUR AU - Qiu, Dong AU - Wang, Yafei PY - 2023/02/16 Y2 - 2024/03/29 TI - Gross Domestic Products (GDP) is not a Proper Indicator of Measurement and Economic Power Comparison for Emerging Economies: A Judgement from International Distributions of Net Factor Income from Abroad JF - Journal of Economic Statistics JA - Journal of Economic Statistics VL - 1 IS - 1 SE - Article DO - 10.58567/jes01010001 UR - https://anser.press/index.php/jes/article/view/164 SP - 1-44 AB - <p>Global distributions of net factor income from abroad (NFI) during 1990-2019 have witnessed that (1) the United States is the top one country accounting for 40% of surpluses of the global total, while a surge in China’s deficit with its GDP increase; (2) GDP growth in emerging economies has a price scissors with NFI deficits; (3) asymmetric NFI has covered up the severity of rich countries’ global arbitrages especially from emerging economies; (4) China’s economic power is exaggerated by the PPP-based GDP implemented by the World Bank. It concludes that (1) developing countries have paid for huge hidden cost for their emergence; (2) the statement of the United States suffering losses absolutely does not hold; (3) GDP is not a universal tool for measuring what matters. It suggests that (1) emerging economies countries should beware of the potential misleading of GDP on economic measurement and economic power comparison ; (2) GDP should be critiqued from the applicability perspective of economies’ types; (3) it is urgent to clarify some misjudgment and misleading concepts in the economic affairs surrounding the global value chain patterns; (4) the construction of national governance capacity in emerging economies should focus on “social infrastructure”, of which one of the important parts is an effective economic statistics system; (5) emerging economies should carry out the strategic layout of international economic statistics talents to enhance their soft powers.</p> ER -