1/29/2025

Cost of living, per capita income for better understanding of wellbeing

 Not that easy for Trump now to sell his snake oil. USA citizens are finding out that they had been lied to for decades about China. Trying to reverse this mentality is going to be impossible.


Another thing we need to take note of is the narrative about GDP per capita to distinguish a rich country from a poor country. The USA has a per capita nominal GDP of about 7 times that of China, while based on purchasing power parity basis is about 3 times that of China. However, comparing GDP per capita to determine the standard of living of a country is hogwash. 

The cost of living in China pertaining to everything is much lower than in the USA and this alone cancels the perceived higher standard of living that the USA likes to tout about its citizens enjoying superior living standards compared to China. Everything in the USA is a couple of times more expensive, with healthcare and hospitalization real shockers. This explains why the Chinese are living so well or even better than the normal USA citizens. 

Now, we are beginning to see the true picture and ought to judge a country not just on per capita GDP to determine the standard of life in a particular country.

Anonymous

2 comments:

Virgo49 said...

https://youtu.be/6mw-3UE5p7I?si=hJbRBO1BJprRBaNy

Good morning and A Happy And Prosperous Chinese New Year to ALL

Here listen and see this Richard Wolfe's Narrative and Documentary of the false comparison of the UAss and China's GDP.

Cheers

Anonymous said...

Currently, under the Global Happiness Index, the Europeans are the happiest people on the planet, with their higher per capita income and per capita GDP. That was supposed to be the way that the world was supposed to work and behave. And that was the ranking order for many years.

But, just last year we had a ranking survey that puts Chinese as the happiest people in the world, based on several parameters in a happiness survey. How could the Chinese, with their meagre income be happier than the Anglo-Saxon Whites in Europe? That was not supposed to happen, and that survey disappeared right away and have not seen the light of day ever since. The Europeans again took most of the top spots in the happiness index and everyone in the West are now very happy with the sleight of hand adjustment.

The reality has now hit them hard in the groin. USA citizens have discovered that the Chinese are indeed very happy people in their interaction with them on Rednote. This is not a lie after all. What does this lesson teach us? That you cannot live a lie long enough for it to be permanently kept secret.

So, are the Chinese not really the happiest people on the planet and deserve to be listed as the top country in the happiness index? Oh, I know they are going to say that a socialist country under a dictator cannot qualify to be the happiest country in the world. I rest my case.