Nominal means nothing when we are talking about economic power or standards of living. Back in 90s Russian Nominal GDP grew 300% percent from 1992-1994. By your logic, Russia had an economic miracle far surpassing that of China. However, in reality economic situation became much worse. In 2014 and yearly 2022 Russian nominal GDP halvened, however no one noticed a thing. Russians produced the same amount of wares as they did before. You should look at GDP PPP.
Connor Jones
>Nominal CoL in Asia is much much lower than in the West. I could live like a king in Vietnam on less than $2k/month. Even South Korea has very cheap dining out and rent in comparison to the US. Also they started growing later, give it a decade or two and they will surpass Yuropoors (China, Vietnam, Malaysia etc., not India or the Middle East ofc).
Ryder Flores
It’s also measure of how much money was printed because it’s based on the sum of the monetary value of many items. And Saudi Arabia has the same number as Japan because they move around overpriced commodities and launder money.
You can live the same way in the US on less than 2k/mo, retard.
You could buy the same size house, drive the same car, etc, between the two for about the same money. The cost of living is extremely constant globally, retard cucks like you just define yourself in the reflection of others.
And it's true, at $2k/mo, your life would be much nicer than your neighbors in Vietnam while it would be pretty typical in the US.
You yourself are pretty typical, so why do you think you deserve better here?
Brandon Anderson
China has excellent numbers considering how many people they have
Angel Ross
>1 442 965 000 population of China >47 394 223 population of Spain
Jack Moore
Inflated GDP. Other than electronics which we import everything is cheaper here 4-5 times In India I earn $1500/pm after 5 years of college while a janitor earn more than me in USA. Is janitor more productive than me? GDP PPP is better to measure living standard of people in different countries.
Justin Scott
>Some other countries for comparison Australia is a part of Asia, to be specific it is a special administration region of China.
