The Economist has raised a very important question that if far too often ignored: How do we measure prosperity? Most people refer to a state’s Gross Domestic Product (GDP) as a measure of a state’s economic well-being. That metric fails badly since it only measures the total value of the “stuff” that is produced in a specific economy. The journal makes a compelling case for improving the measures of the well-being of the people who reside in a state. Many of these improvements are logical, but somewhat difficult to operationalize. Nonetheless, we should discard the idea that the GDP offers a genuine insight into the idea of prosperity.
China has reacted to the likelihood that Donald Trump will be the Republican candidate for President in November. In an editorial in China Times, a media outlet often presumed to speak for the central government, the Communist Party characterized the Trump candidacy in this way:
“If Trump really captures the White House, what will it mean? This scenario is becoming increasingly serious.
“The US traditional political elite and media have long ignored the drastic changes in US society. Rising against the repression of the GOP establishment and the mockery of US mainstream media, Trump will substantially shake the conventional US’ way of operation. Acquiring more authority from US society, he will be expected to bring in more reforms, that might change many established policies.
“According to Trump’s current policy proposals, a Trump-led US might be inclined to isolationism and attach more importance to ‘America First,’ and American economy. Ideology will be downplayed. Washington might engage in more squabbles with its free-riding allies, and tighten up its immigration policy which as a result will upset the Latin Americans. After enjoying massive trade surplus from the US for years, China and Japan will be demanded by Washington to widen market access.”
Interestingly, the Chinese are more sanguine about a Trump presidency–one gets the sense that the Chinese believe that, although unpredictable, Trump will be someone with whom they can work.
Nepal’s government is close to collapse after Maoist parties threatened to leave the government coalition. Disaffection with the government of Prime Minister K.P. Oli has grown because of the slow response to last year’s devastating earthquake as well as concerns among minority ethnic groups that Oli’s plan to reorganize the electoral provinces of Nepal will lead to a diminution of their power. The latter fear is particularly acute among the Madhesis who live in the lowlands along the Indian border, but many in Nepal believe that the Madheses are acting under the influence of the Indian government.
World Politics News 
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