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I'm a bit confused about the global poverty amount. What is that $7.50 exactly? I've recently lived in Cambodia, and I'm now in Australia. $7.50 in Cambodia is
by marcus_holmes 8y ago
I'm a bit confused about the global poverty amount. What is that $7.50 exactly?
I've recently lived in Cambodia, and I'm now in Australia. $7.50 in Cambodia is enough to get three good meals and a couple of beers (for a local). $7.50 in Australia is not enough to get a single meal.
How do they calculate it so they take into account disparate purchasing power?
- crefflar 8y agoThe dollars quoted are in terms of purchasing power in the United States as of 2011.
- marcus_holmes 8y agoI think I see - so if $7.50 in the USA in 2011 can buy 5Kg of rice, then the equivalent income in Cambodia is about $2.50 and in Australia is about $25... is that right?