Measure the economy and the GDP from outer space

The media reported in the middle of January 2025 that China's gross domestic product (GDP) had grown by 5 percent in real terms last year. The Chinese authorities stressed that this was exactly what the party and government predicted. Most of the reports in our press were skeptical. Economic growth is unlikely to be so high, because China's economy is in a bad state: the real estate industry has to contend with huge problems, and many university…