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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (5694)	5/6/2004 9:41:08 AM
From: RealMuLan	Read Replies (5) \| Respond to of 116555

>>Lets assume share of GDP = standard of living.<< I seems having a little problem with this assumption, especially for those export-oriented economy. Hasn't Rien heard Japan being called "rich country, poor people"<g>? And one can just go to visit Japan, to see their average living standard for believing<g>. In China, the living standard for 30% of urban residents has actually declined comparing to 20 years ago before the economic reform. And the majority of rural residents also see their livng standard declined. Even though the GDP for China has been double or tripled. I am not that optimistic on the rest of the world can catch on US, Japan and europe in terms of the per capita GDP. China's total GDP will catch up in 20-30 years, but per capita? not in one hundred years.