if canada economy growth higher than 2.8%, inflation start to pick up... and again, canada is a country with a more comlete social welfare coverage.. canada is also a country with strong labor union...its labor market is more rigid.. and it is hard to keep lid on inflation with strong labor union exist... and it is great achievement to have current economy but still keep blue sky and drinkable water.. clear air.. we are lucky
China is in complete different shape.. most people does not have social welfare covered.. wealth allocation/transfer payment system is not fair.. labor is poorly educated and poorly paid... when we put machine in peasant hand who flood to city.. it is easy to see GDP explosive growth.. however, even so... china unemployment rate is still high even with double digit growth.. if China's GDP lower than 8%, then you will see to too many unemployed people wandering and destablize the society....
therefore it is unfair to compare two economy just by GDP number..
China is in complete different shape.. most people does not have social welfare covered.. wealth allocation/transfer payment system is not fair.. labor is poorly educated and poorly paid... when we put machine in peasant hand who flood to city.. it is easy to see GDP explosive growth.. however, even so... china unemployment rate is still high even with double digit growth.. if China's GDP lower than 8%, then you will see to too many unemployed people wandering and destablize the society....
therefore it is unfair to compare two economy just by GDP number..