It is probably "magic dollar" banking that keeps China out of this, seeing as how their wealth is always backed by material exports and they don't calculate their wealth based on credit lines like most Western countries.
probably because though china's gdp is 3.x trillion, the median (GNI) income is $2,360 USD, according to the world bank.
that makes it a wealthy state full of very poor people.
GDP doesn't necessarily tell you much, or anything, about the lived experience of poverty or wealth in a given nation. Which is what this map is really about - social impact of wealth distribution.
for example, mexico's GDP is 1.559 billion. the GNI is 7,000 USD or so. And, mexico's three southern most states, Guerrero, Oaxaca, and Chiapas constitute one of the poorest regions in the entire world.
so yeah, GDP doesn't really matter when we talk about social capital and the distribution of the world's wealth.
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How is China not in this? 3.2 trillion GDP.
It is probably "magic dollar" banking that keeps China out of this, seeing as how their wealth is always backed by material exports and they don't calculate their wealth based on credit lines like most Western countries.
probably because though china's gdp is 3.x trillion, the median (GNI) income is $2,360 USD, according to the world bank.
that makes it a wealthy state full of very poor people.
GDP doesn't necessarily tell you much, or anything, about the lived experience of poverty or wealth in a given nation. Which is what this map is really about - social impact of wealth distribution.
for example, mexico's GDP is 1.559 billion. the GNI is 7,000 USD or so. And, mexico's three southern most states, Guerrero, Oaxaca, and Chiapas constitute one of the poorest regions in the entire world.
so yeah, GDP doesn't really matter when we talk about social capital and the distribution of the world's wealth.
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