Entries in GDP (3)


‘Blood-Soaked GDP’ Is China’s Catchy New Protest Cry

Getty/George Doyle/Thinkstock(BEIJIING) -- In China, it has been the summer of the “Blood-Soaked GDP.”

The phrase has become a sort of protest of what they consider the economic-growth-at-any-cost mentality that has propelled Chinese infrastructure growth for the past two decades. It is a dig at Chinese officials who would do anything they can -- including cutting corners -- to increase the country’s gross domestic product at the expense of human lives.

Even the state-run People’s Daily has used the phrase. After a signaling failure was blamed for the deadly Wenzhou high-speed rail crash in July that killed 40 passengers and injured almost 200, the People’s Daily, normally known to be the mouthpiece of the Chinese government, wrote a scathing front-page editorial that exclaimed, "We don’t want a blood-soaked GDP.”

The phrase “blood-soaked GDP” was then reintroduced into the Chinese lexicon and nowhere more prominently than on China’s version of Twitter -- Sina Weibo.

“Blood-soaked GDP! Countless workers have suffered!” lamented a Chinese netizen who calls herself ‘Pig Who Falls in Love with the Big Bad Wolf.’

“We don’t want a Bloody GDP!” wrote fellow netizen "Li’l Sister Lin Loves the Weekend." “We want a beautiful home.”

The phrase “Bloody GDP” or “Blood-soaked GDP” (帶血的GDP) has come to encapsulate a sense of growing frustration amongst the Chinese public.

The phrase was initially used for years to describe the alarmingly frequent coal mining accidents that occur in China.

“Bloody GDP” has increasingly become a rally cry on the Chinese Internet, an expression of extreme exasperation used with the frequency of “W.T.F.” and “OMG” on Twitter in the U.S. but with socio-political implications.

The phrase was used to galvanize a huge mid-August protest against a chemical plant over pollution fears in the northeastern Chinese city of Dalian. More than 12,000 people showed up chanting slogans and officials had no choice but to close the plant.

As recently as last week, “blood-soaked GDP” was brought up again after two subway trains crashed on one of Shanghai’s newest subway lines, injuring hundreds.

On Tuesday, however, the phrase came full circle. A coal mine explosion in the southwestern Chinese province of Guizhou killed 13 miners. Responding to the news, Weibo user “Freedom Guard” simply wrote, “Aren’t we all tired of saying this? But ‘Bloody GDP.’”

Copyright 2011 ABC News Radio


Earthquake, Tsunami Sends Japan's Economy into Recession

JIJI PRESS/AFP/Getty Images(TOKYO) -- The earthquake and tsunami that rocked Japan two months ago have sent the country's economy back into recession.

New economic figures out Thursday show that Japan's gross domestic product shrank nearly four percent between January and March, marking the second straight quarter of decline -- an indication of a recession.

The latest report examines just 20 days following the disasters, but economists say the long-term impact is huge.

The March 11 earthquake and tsunami damaged major factories and led to parts shortages for several manufacturers, including the top players in the auto industry -- Toyota, Honda and Nissan.  The Fukushima Daiichi nuclear power plant was also crippled by the natural disasters, sparking a nuclear crisis and causing power shortages and futher damages to businesses.

Economic analysts say the massive reconstruction effort that's underway could help lift Japan's economy.

Copyright 2011 ABC News Radio


Egypt, Tunisia Rank Low on 'Wellbeing' Scale

Protestors gather in Cairo, Egypt. Photo Courtesy - ABC News(WASHINGTON) - New economic indicators give a glimpse into the lives of those who have stood recently in protest in Egypt and Tunisia. In both countries, wellbeing has plummeted over the past several years, despite gains in GDP, according to a new Gallup survey.
Gallup used the Cantril Self-Anchoring Striving ladder scale to determine whether respondents worldwide viewed their lives as "thriving," "suffering," or "struggling."  In Egypt, where demonstrators have urged the immediate exit of President Hosni Mubarak, the number of people who view their lives as "thriving" dropped 18 percentage points since 2005. In Tunisia, where protests last month toppled the country's government, the number of people who felt their lives were "thriving" had dropped 10 percent since 2008.

Despite gains in GDP in both countries over the same period, the results make wellbeing in the two countries among the worst in the Middle East and North Africa regions. The results also raise concerns about Libya, Palestinian Territories, Iraq, Yemen and Morocco whose wellbeing results were about the same as the two countries.

Copyright 2011 ABC Newss Radio

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