- 16 Aug 2021 15:32
#15185763
Here is the thing though. Economy grows in absolute terms and not in relative terms. It is the main reason for the lower growth rates at higher development levels that you still get the same 1000 or 1500 but for you in relative terms it is 2% and so on percent. While for countries with low GDP per capita that is 50% and so on percent
Statisticians measure it in relative terms within 1 country though to demonstrate improvement. That is the ugly truth of the matter.
I do not think that any nation is hopeless to change; however, I think that some nations do require a lot more effort than others to become changed. - Verv
Fasces wrote:In other words:
Chinese GDPPC increase (2010-2020): 84.61%
US GDPPC Increase (2010-2020): 17.99%
Chinese GDPPC increase (1991-2020): 2422.52%
Estonian GDPPC Increase (1991-2020): 1842.67%
Lies, damned lies, statistics and, the JohnRawls special, statistics without context, meaning or justification.
Here is the thing though. Economy grows in absolute terms and not in relative terms. It is the main reason for the lower growth rates at higher development levels that you still get the same 1000 or 1500 but for you in relative terms it is 2% and so on percent. While for countries with low GDP per capita that is 50% and so on percent
Statisticians measure it in relative terms within 1 country though to demonstrate improvement. That is the ugly truth of the matter.
I do not think that any nation is hopeless to change; however, I think that some nations do require a lot more effort than others to become changed. - Verv