Mfs seem to have forgotten that Chinese GDP PPP is already higher than the US
this post was submitted on 14 Sep 2024
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infrastructure is considered a 'stock' you measure it at any point in time.
GDP is a 'flow', total value of final goods and services measured over a year. so if a country has a bridge worth $100b, that won't be included in GDP since it already exists, it won't be shown when its destroyed/depreciates either. it is only measured for the year its built, no other year.
so if a storm hits, people lose jobs, homes, reduce consumption, GDP falls. to counter some of the effects, the Government injects money through jobs programs, stimulus checks, ppp loans etc which prevents some of the fall.
Yeah, I don't know why I said that the destruction of the bridge would be counted. For GDP metrics, the product/service is assumed to have been consumed entirely in the year it was sold.