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>> Not the biggest, but the richest It depends on what you mean by rich. From a GDP PPP perspective there are issues on short, medium and long term when compar
by kmlx 8y ago
>> Not the biggest, but the richest
It depends on what you mean by rich.
From a GDP PPP perspective there are issues on short, medium and long term when compared with other countries.
For example:
China is richer than the whole of the EU (incl UK).
US is almost as rich as the EU.
India is 1/2 and Japan 1/4.
*By rich I mean GDP PPP.
- adventured 8y agoThe EU isn't close to as rich as the US, the parent comment was far off the mark. Not only does the US have about ~40% of all the millionaires on earth all by itself, its GDP per capita is 77% higher than the EU ($33,700 per capita per the Worldbank 2017 figures; versus $59,700 that year for the US). Its nominal GDP is also about $2 trillion higher, despite having roughly 200 million fewer people. PPP is a near worthless measurement if you're a business trying to sell goods. It's the absolute last thing you'd rely on to gauge the pricing power in a market for a product or service.
- kmlx 8y agoPPP is worthless for a business. i totally agree. that's why i was asking the parent comment about what does "rich" mean for him. but I agree with you that from a business perspective the US is de facto the place to be.