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I saw a story today about a new Chinese cancer drug. It retails for 280 USD in China, and for 8,820 USD in America. American GDP growing 30x the rate of China'
by elfbargpt 3y ago
I saw a story today about a new Chinese cancer drug. It retails for 280 USD in China, and for 8,820 USD in America.
American GDP growing 30x the rate of China's, incredible!
- cced 3y agoDon’t forget credit card interest payments! GDP! Student loan payments! That also goes towards GDP! Great products! 30 years of mortgage interest? You guessed it, GDP! Copium and GDP for everyone! Anyone look at PPP or is that metric too inconvenient?
- dr_dshiv 3y agoYeah, because with PPP China already has a bigger economy than USA. Edit for the downvoters: China’s 2022 GDP based on PPP is $31.5 trillion vs the USA’s $23 trillion. That’s 37% bigger. Source: https://www.worldeconomics.com/Country-Size/China.aspx https://www.worldeconomics.com/Country-Size/China.aspx
- cced 3y agoWow wow wow, that’s not the line!
- nonethewiser 3y agoPPP doesnt measure size of economy
- Iwan-Zotow 3y agoSure it does
- piva00 3y agoGDP (PPP adjusted) does, and that's what the comparison between China vs USA on the parent comment stems from. China's GDP (PPP adjusted) is ~USD 33 trillion. USA's GDP (PPP adjusted) is ~USD 27 trillion. Those are economies' size measures.
- chii 3y ago> American GDP growing 30x the rate of China it merely shows how much richer americans are compared to the chinese. A drug is quite often an inelastic good - someone who is dying will, with very high probability, pay the maximum price they could afford for the drug.