3 ms·
But their purchasing power parity is way higher so presumably they get more for less, other than stuff they have to import to support research.
by cma 6y ago
But their purchasing power parity is way higher so presumably they get more for less, other than stuff they have to import to support research.
- sudosysgen 6y agoI don't understand why this is downvoted. Money goes further in China than in the US, and the Chinese GDP PPP is indeed higher than the US, although barely.
- newen 6y ago$27.8 trillion vs $20.3 trillion is not barely.
- sudosysgen 6y agoHoly shit. Not even a year ago it was 23.4 to 21.4, not only did the coronavirus do a number on the US economy, but Chinese growth has been simply explosive.
- Gibbon1 6y agoA lot of what's spent in the US goes towards private rents. Money that goes towards rents is a waste. Most don't see it because it's everywhere. Either directly or indirectly. You pay more per sqft for an office, but you also pay more per hour for labor, because the guy you hires also pays rent[1]. Things cost more because the supply chain has to pay rents. [1] Consider a lot of workers half their income goes to rent.
- Barrin92 6y agocorrect, it's also why the Chinese and Russian military are quite large and potent despite the fact that obviously they spend several times less in absolute terms than the US. In particular salary costs, which tend to be large factors in research or the military, are way lower in China or Russia.