Yet rather than exploring this shift－which is not captured in traditional measures of GDP－many economists have focused on trying to poke holes in China’s growth narrative. A recent Brookings Institution study, for example, estimates that China’s economy is about 12 percent smaller than official figures indicate.
This does little good. The changes China’s economy has undergone over the last decade are sweeping, unprecedented and essential. The world would be far better served by an effort to understand them than by attempting to prove that the country’s achievements are less impressive than they are.
The author is dean of the School of Economics at Fudan University and director of the China Center for Economic Studies, a Shanghai-based think tank. Project Syndicate The views don’t necessarily represent those of China Daily