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"Shit economy"? Some places a dollar goes far, that cannot be construed as 'shit economy'. The place where a $10 USA haircut costs $0.5 need not be due to loca
by achow 4y ago
"Shit economy"?
Some places a dollar goes far, that cannot be construed as 'shit economy'. The place where a $10 USA haircut costs $0.5 need not be due to local (bad) economic situation. Similarly for food and other living essentials.
- sfe22 4y agoAgreed, the cheaper the service the more efficient economy they got.
- dahfizz 4y ago> Some places a dollar goes far, that cannot be construed as 'shit economy' You're implying a strange causality. The places with the highest PPP conversion factor are places like Colombia, Iran, Cambodia, Indonesia. The reason a dollar goes so far is because these places have no money. When controlling for PPP, 10% of the population of Cambodia lives on less than $2 per day. So yeah, a dollar will go pretty far. And its because their economies are shit.
- achow 4y ago> ..Indonesia.. It is doing very fine. Thank you. https://www.marketwatch.com/story/indonesia-s-third-quarter-gdp-growth-accelerated-further-271667796494 https://www.marketwatch.com/story/indonesia-s-third-quarter-... Since you are cherry picking examples, here are some more cherries. Countries where the amount of $ one needs to spend to get equivalent of $100 goods in USA: Country $ ------------ Turkey 36 Poland 52 Hungary 56 Mexico 56 Spain 84 Korea 88 Italy 89 Germany 95 Source: Wikipedia
- dahfizz 4y agoHmm, There is a certain trend here.... First world countries: Spain 84 Korea 88 Italy 89 Germany 95 All close to 100. Developing nations: Turkey 36 Poland 52 Hungary 56 Mexico 56 Are all much lower. Seems like enough cherries to me to conclude that developing nations with weaker economies have a higher PPP adjustment.