Keywords: China, green GDP, economic growth, green national accounting, environmental pollution, natural resources, gross domestic product, green economics, environmental damage, monetary values, health problems, wealth, well-being
Adjusting China's GDP: a green accounting illustration
When green national accounts are calculated, environmental damage will have a negative impact on economic growth figures and therefore countries will be more likely to take potential damage into account when planning their growth path. Using China as an example, the following illustration will place monetary values on environmental problems and consequent health problems, using them to adjust GDP. The aim is to arrive at a figure for green GDP which will give a truer estimation of wealth and well-being.