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ferrel_hadley t1_j8i3578 wrote

They are taking the average GDP adjusted for Purchasing Power Parity over 5 years. The problem is I am not sure PPP works for total GDP, it is meant to reflect the differences in consumer income i.e. how far a consumers wages will go. So someone in the US on say $50 000 may only be able to buy the same amount of goods as someone in country x who is on $40 000 because consumer prices are lower.

But it relies on a basket of consumer goods, so I really don't think it works scaling to GDP as a large part of GDP calculations are not in a sample consumer basket and if you exclude things like property (which is insanely expensive in China) you can end up with wild distortions.

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droolingdonkey t1_j8i4q2q wrote

Haha then this chart is even more false. My money as a scandinavian would go longer then the avarage Russian. Holy smokes what a shit measurement.

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svn380 t1_j8w96p5 wrote

Are you sure they're using PPP?

I didn't see that info and was wondering....

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