Why US GDP-per-capita is misleading
Look at INCOME-per-capita. That’s only $38,000 a year. Also, GDP is based on spending and doesn’t reflect real wealth. Now look at China, where people have saved up $18 trillion in bank accounts. Who’s wealthier?
Look at INCOME-per-capita. That’s only $38,000 a year. Also, GDP is based on spending and doesn’t reflect real wealth. Now look at China, where people have saved up $18 trillion in bank accounts. Who’s wealthier?