IMF: China nominal per-capita GDP highest among BRIC in 2016

[Hamartia Antidote]

another vid of Mexico

 

[esolve]

another vid of Mexico

I'm wondering if there is a surge in the sea, what will happen to this city?

 

[Nilgiri]

In cuba, the buses, cars, modern facilities are very old, 1970's generation. Ordinary people don't have or have very very old home appliances, like TV, fridge. Ordinary families eat cheap food, and it is a bit luxury to have meat. Internet services are very limited, very few can afford. Foreign food, like cococola, are very expensive. But according to world bank, its PPP is 18796 dollars, which is just unbelievable, very unbelievable.

Cuba submits its own data to the ICP which the World Bank then uses to make an unofficial estimate (PPP multiplier of about 3). Cuba's official GDP data (in US dollars or Pesos) is quite sketchy as well. It's a bad example overall to use to illustrate anything given the high distortions prevalent in a govt imposed socialist state that is just opening up slowly (and exposing the flaws slowly as well) now.

There is a good reason why IMF does not even have official database figures and projections for Cuba....hard US dollars, PPP or anything else.

Using Cuba to try bring down the PPP model as a whole is quite silly....it does not have free, neutral economic information exchange flow. We have to believe what the govt collects and whatever methods and coefficients they incorporate non-transparently without any 3rd party verification/standards.

For a socialist country in a continuous battle with hiding its own financial situation from its own people....that produces unreliable raw data for use in making the PPP multiplier.

I however agree that World Bank should put a disclaimer for such figures from unreliable countries or refuse to include them at all in international parameter rankings (like IMF does).

But World Bank is more influenced from UN type of philosophy, so it is what it is.

Cuba Bumped from Human Development Index over Missing Data | Inter Press Service

The missing indicator for Cuba was for income, he said, pointing out that there is no internationally reported figure for Cuba’s Gross National Income adjusted for Purchasing Power Parity (GNI-PPP): the figure used for all countries for the income component of the HDI, and which is normally provided by the World Bank and/or the International Monetary Fund (IMF).

Unofficial estimates of GNI-PPP, Orme said, were considered unreliable by the statisticians and economists at the Human Development Report Office, and the U.N. Statistical Commission has advised against the use of such imputed – as opposed to officially reported – figures as human development indicators for HDI calculation purposes.

EDIT: In fact it looks like World Bank has also stopped releasing PPP data for Cuba from 2012 onwards. No surprise!

 

[tranquilium]

The problem is it is very hard to judge things simply by statistics.
At first you'd think Mexico must be some 3rd world backwards hellhole if people are trying to leave.
As this video shows the capital is pretty nice. Seems like happy people.

Who knows what is going on behind the scenes.

Which is why the whole developed/developing nation thing is a lot more complicated than people give it credit for. This is without getting into stuff like military strength, technological level which adds in even more complications.

 

[esolve]

Cuba submits its own data to the ICP which the World Bank then uses to make an unofficial estimate (PPP multiplier of about 3). Cuba's official GDP data (in US dollars or Pesos) is quite sketchy as well. It's a bad example overall to use to illustrate anything given the high distortions prevalent in a govt imposed socialist state that is just opening up slowly (and exposing the flaws slowly as well) now.

There is a good reason why IMF does not even have official database figures and projections for Cuba....hard US dollars, PPP or anything else.

Using Cuba to try bring down the PPP model as a whole is quite silly....it does not have free, neutral economic information exchange flow. We have to believe what the govt collects and whatever methods and coefficients they incorporate non-transparently without any 3rd party verification/standards.

For a socialist country in a continuous battle with hiding its own financial situation from its own people....that produces unreliable raw data for use in making the PPP multiplier.

I however agree that World Bank should put a disclaimer for such figures from unreliable countries or refuse to include them at all in international parameter rankings (like IMF does).

But World Bank is more influenced from UN type of philosophy, so it is what it is.

Cuba Bumped from Human Development Index over Missing Data | Inter Press Service



EDIT: In fact it looks like World Bank has also stopped releasing PPP data for Cuba from 2012 onwards. No surprise!

I use cuba coz it is very obvious. I have some knowledge about Peru, Egypt, Algeria. These countries are very backward, but they have similar or even higher PPP per capita than China, which is just unbelievable.

another example is enezuela, it has a PPP per capita of 17,759 dollar, which is laughable. It is short of even food, let alone industrial products.

 

[steelseries779]

I use cuba coz it is very obvious. I have some knowledge about Peru, Egypt, Algeria. These countries are very backward, but they have similar or even higher PPP per capita than China, which is just unbelievable.

another example is enezuela, it has a PPP per capita of 17,759 dollar, which is laughable. It is short of even food, let alone industrial products.

Have you really been to those countries？ They may be poorer than China's coastal regions, but I doubt central or west China is above them

 

[Nilgiri]

I use cuba coz it is very obvious. I have some knowledge about Peru, Egypt, Algeria. These countries are very backward, but they have similar or even higher PPP per capita than China, which is just unbelievable.

another example is enezuela, it has a PPP per capita of 17,759 dollar, which is laughable. It is short of even food, let alone industrial products.

Many parts of China are quite backward as well, dont fool yourself. About 11% of Chinese for example are experiencing malnutrition...and incomes are very skewed.

Malnutrition in Egypt, Algeria and Venezuela are in the 1 - 2% range and Venezuela is short on food? Supply maybe, consumption definitely not.

| Tableau Public

If there are any other specific statistics you want to compare, lets see them. I am seeing a very poor case from you regarding PPP so far.

 

[AndrewJin]

I use cuba coz it is very obvious. I have some knowledge about Peru, Egypt, Algeria. These countries are very backward, but they have similar or even higher PPP per capita than China, which is just unbelievable.

another example is enezuela, it has a PPP per capita of 17,759 dollar, which is laughable. It is short of even food, let alone industrial products.

There is no way for Venezuela to compare to even the poorest province of China.
The methodology of PPP is highly questionable.

 

[esolve]

Have you really been to those countries？ They may be poorer than China's coastal regions, but I doubt central or west China is above them

I'm comparing these countries with China's west regions. If I only pay attention to the east coast areas of China, I should compare with Poland, Greece, blabla, not these poor nations.

 

[AndrewJin]

I'm comparing these countries with China's west regions. If I only pay attention to the east coast areas of China, I should compare with Poland, Greece, blabla, not these poor nations.

Western China is a 2 trillion U.S. dollar economy with higher growth compared to India.
Inclusive growth of western China is below average China but much more prominent than most developing countries.

 

[esolve]

Many parts of China are quite backward as well, dont fool yourself. About 11% of Chinese for example are experiencing malnutrition...and incomes are very skewed.

Malnutrition in Egypt, Algeria and Venezuela are in the 1 - 2% range and Venezuela is short on food? Supply maybe, consumption definitely not.

| Tableau Public

If there are any other specific statistics you want to compare, lets see them. I am seeing a very poor case from you regarding PPP so far.

11% of Chinese for example are experiencing malnutrition？？？？ and I see Vietnam is much better than China in this regard, 8.3%, XDDDDDDDDDDD

this is so ridiculous, tell me how they investigate this? I think their methodology is, maybe or for example, some formula, and the input parameter is GINI index, meat/milk consumption, and then get the answer, XDDDDDDDD


Venezuela is indeed short of supply. if supply is in short, how can consumption be ok?

 

[Hamartia Antidote]

Which is why the whole developed/developing nation thing is a lot more complicated than people give it credit for. This is without getting into stuff like military strength, technological level which adds in even more complications.

The "outer" fence (more fences behind camera) looking into Mexico from the US.. One side ~$9,000 the other much more.

 

[Nilgiri]

11% of Chinese for example are experiencing malnutrition？？？？ and I see Vietnam is much better than China in this regard, 8.3%, XDDDDDDDDDDD

You got any neutral sources that give different figures?

this is so ridiculous, tell me how they investigate this? I think their methodology is, maybe or for example, some formula, and the input parameter is GINI index, meat/milk consumption, and then get the answer, XDDDDDDDD

Wrong. They take data from a multiple of sources that do on-ground surveys and data collection like the WHO, UNICEF and FAO.

Lets take just one of the constituent sources:

The FAO Food security indicators show that China has 10% malnourished population.

Algeria, Egypt and Venezuela are in the standard "<5%" category.

ESS Website ESS : Food security indicators

FAO reports Vietnam at about 11% malnourishment if it makes you feel happier. Different sources come up with different estimates though they are not spectacularly different. Thats why GHI takes the "average" from all of them so we have a combined overall estimate/score.

Venezuela is indeed short of supply. if supply is in short, how can consumption be ok?

Ever heard of imports? They simply import the difference from Brazil, Colombia etc and other international markets. By supply I meant local food production supply.

 

[beijingwalker]

Global Poverty - China improving, India impoverished, Africa same (CNN)

 

[esolve]

You got any neutral sources that give different figures?



Wrong. They take data from a multiple of sources that do on-ground surveys and data collection like the WHO, UNICEF and FAO.

Lets take just one of the constituent sources:

The FAO Food security indicators show that China has 10% malnourished population.

Algeria, Egypt and Venezuela are in the standard "<5%" category.

ESS Website ESS : Food security indicators

FAO reports Vietnam at about 11% malnourishment if it makes you feel happier. Different sources come up with different estimates though they are not spectacularly different. Thats why GHI takes the "average" from all of them so we have a combined overall estimate/score.

Ever heard of imports? They simply import the difference from Brazil, Colombia etc and other international markets. By supply I meant local food production supply.

the estimation of under-nutrition is according to food energy consumption. Chinese people are not interested in eating high-energy food, like milk, cheese and meat. By international standard, many rich Chinese are under-weight and under-nutrition. This is simply a wrong indicator.

come on, many Chinese are doing business or engineering in Venezuela, their experience is : unless you live in wealthy neighborhood, ordinary people in Venezuela can't buy many things even if they have money, let alone a lot of Venezuela people are poor.