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The US is treated as a high-income country because incomes are high. Incomes in China are low. There's nobody disputing either of those claims. USA NGDP per ca
by thaumasiotes 2y ago
The US is treated as a high-income country because incomes are high. Incomes in China are low. There's nobody disputing either of those claims.
USA NGDP per capita 2024: US$86,600, just below Norway.
China NGDP per capita 2024: US$13,000, just below Malaysia.
Their economy is large because there are more of them. That doesn't do anything for their income.
- throwaway290 2y agoHigh income != developed. There are different metrics. Overall GDP very high, GDP PPP per capita middling, incomes highly disparate, etc. Developing status becomes kinda subjective and this particular move is not insane. Sadly it's unlike many many other moves.
- thaumasiotes 2y ago> High income != developed. There are different metrics. You might want to replace the quote you were citing.
- throwaway290 2y agoWhy?
- thaumasiotes 2y agoOK, I guess first you might want to read it.
- throwaway290 2y agoI did! Did you?