Yes, Ireland’s Economy Is Actually Growing As Fast (Even Faster In Fact) As China’s

The Wall Street Journal has an article trying to deny that Ireland’s economic growth is almost as fast as China’s.

Their argument is that in Ireland GDP is misleading as that largely reflects tax avoidance schemes by multinational corporations due to Ireland’s low corporate income tax rate, and that the quartely increase of GNP was weaker than the quarterly increase of GDP.

That is true, yet even GNP was more than 10% higher in Q1 2015 than in Q1 2014. While that refers to nominal GNP, real GNP increased roughly as much considering that inflation was zero.

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