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Very interesting. Considering the nominal values, americans are more than 7 times wealthier than mexicans. Considering the PPP, they are a little less than 4 times wealthier than mexicans. Still pretty much wealthier, but the PPP is more realistic.
If an american sees only the nominal values, he will think that mexicans (and brazilians, colombians etc.) are dying of starvation right know.
Exactly
Not only that, the PPP measurement still does not tell the whole story because some real life COL parameters are left out.
By per capita GDP ranking (IMF and World Bank), Ireland (#4) ranks higher than the US (#7)...is Ireland a wealthier country than the US??....laughable indeed....
I was using NZ and Brazil as examples. Yes Brazil is obviously a lot more powerful, being one of the top 10 countries in terms of GDP, but Kiwis are on average wealthier thanks to their GDP per capita.
20$ a day? the vast majority of Latin Americans earn much less than 600$ per month. Only Argentina and Chile have an average wage above 600$ per month/20$ a day.
I was using NZ and Brazil as examples. Yes Brazil is obviously a lot more powerful, being one of the top 10 countries in terms of GDP, but Kiwis are on average wealthier thanks to their GDP per capita.
Again, "average" does not mean anything....as I said, if Jeff Bezos walks into the bus I'm riding, "on average" , I'm a multi-millionaire.....
My US-Ireland example is clear as you cannot rely on "per capita GDP" measurement.
20$ a day? the vast majority of Latin Americans earn much less than 600$ per month. Only Argentina and Chile have an average wage above 600$ per month/20$ a day.
Latin American countries usually have substantial amount of informal economic activity that is not officially tracked...in Brazil alone probably such slice of the pie is probably worth several percentage point of GDP.
I used the world "powerful" in economic terms and, yes, Brazil is a also a powerful country militarily and in terms of world political influence compared to NZ...
I give up....again, per capita GDP is a standalone statistical number largely useless....read my previous example, by per capita GDP Ireland ranks higher than the US..so Ireland is a wealthier than the US right??
Neither professional Brazilians to NZ......
Yes Ireland is wealthier by GDP per capita than the US. GDP per capita relates to the productivity of the economy and the value it can generate.
You can try to negate GDP per capita all you want, but I can see a clear correlation between it, and the standard of living in countries.
Brazil is a large country, with a huge population and the biggest economy in an entire continent. -of course it's going to have a lot of influence
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As I have already mentioned, even the flow of uneducated illegal Mexicans to the US has steadily slowed during the years and in some instance actually reversed....if poor uneducated Latin Americans showed less economic interest for the US you can imagine if professionals from the same areas are interested in NZ....
Not sure what your point is here, but most Brazilians I've met in NZ are professionals or university educated.
A country's wealth is not related to how much natural resources it has.
For example, in East and Southeast Asia, Malaysia, Myanmar and Indonesia are all rich in natural resources. But their people are less well-off than their neighbors. On the other hand, Japan, South Korea and Singapore have hardly any resources. But they are quite well-off.
Problem is those countries with a lot of natural resources usually have rampant corruption and government complacency.
Yes Ireland is wealthier by GDP per capita than the US. GDP per capita relates to the productivity of the economy and the value it can generate.
Nonsense....Ireland is a huge offshore center for foreign multinationals and a lot of their economic activity does not trickle that much to the local population (just their competitive wages and some more)....saying that Ireland is wealthier than the US is beyond ridiculous.
Nonsense....Ireland is a huge offshore center for multinationals and a lot of their economic activity does not trickle that much to the local population (their competitive wages and some some)....saying that Ireland is wealthier than the US is beyond ridiculous.
It doesn't matter how Ireland makes it money, just how much per capita it makes.
Ireland has an average wage of US$51000, so it's obviously making money from somewhere. If it's not making a lot from being an offshore multinational centre (as you claim), then the rest of it's economy looks even more impressive.
Has the concept of a small wealthy country, occurred to you?
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the vast majority of Latin Americans earn much less than 600$ per month. Only Argentina and Chile have an average wage above 600$ per month/20$ a day.
