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Germany looks for new way to measure growth

01-18-2011 08:33 BJT

BERLIN, Jan. 17 (Xinhua) -- Germany started a project on Monday to explore new standards to estimate the development of the economy based on the traditional way of the gross domestic products (GDP).

The Bundestag, the lower house of German parliament set up a cross-party committee for this project, headed by Daniela Kolbe, a MP from the Social Democrats (SPD).

The committee will offer advices in two and a half years, trying to integrate factors like advancements in education, environment and quality of life into the consideration of the growth of economy.

"The new criteria should become a compass for policy-makers in order to show where our society stands, and whether our people are better or worse off," said Kolbe.

Similar attempts have also happened in some other developed countries like Britain, France and Canada.

In London, Prime Minister David Cameron has asked the Office of National Statistics to prepare methods to measure the "general well-being" of Britain.

Canada is investigating the viability of adopting a similar initiative and French President Nicolas Sarkozy has announced that he intended to use happiness levels as one method of assessing the country's economic progress.

The pioneer of such new standards is the insular Himalayan kingdom of Bhutan, famous for its adoption of "gross domestic happiness" as the key measurement of its growth.

Editor:Yang Jie |Source: Xinhua

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