Indonesia now upper middle-income country, World Bank says

[Mista]

I mean countries with sizeable population as Poland and RoK that gained high income status my friend so Countries with more than 30 million inhabitants. Because that’s a good benchmark for countries in Asean.

Lol, you're shifting the goalpost by setting a arbitrary line to suit your argument. Why 30mil? So countries like Netherlands and Australia should be excluded too? Why not 100mil? Then no country would have breached into the high income status except for the US and Japan.

Countries with more than 30 million inhabitants.

All right then.

Singapore's GDP: $372bil

https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true

Assuming Singapore has a population of 30mil with ZERO additional GDP would still give us a GDP per capita of $12,400.

 

[Brainsucker]

But the day may never come.
In opposite achieving high income is a huge challenge.
For country of middle size like Vietnam, Thailand, Philippines, Indonesia they must have a strong service sector, manufacturing, industry and domestic market. They should have national champions that make domestic brands.
It’s easier for Singapore because you have less people.

I agree. Middle Income Countries are prone to Middle Income Trap. Where the wages raise very significant, Labor Union become too strong, but there are a lot of people who can't find a job, because they're no longer pretty in the eyes of Manufacture business.

 

[Nike]

I agree. Middle Income Countries are prone to Middle Income Trap. Where the wages raise very significant, Labor Union become too strong, but there are a lot of people who can't find a job, because they're no longer pretty in the eyes of Manufacture business.

that's where the innovative and creative industry playing a significant roles here, as an example Japan anime industries can generate dozens billion US dollar from their anime TV alone, there is merchandise industries, manga publisher industries and so on. Heck there is another industries like TV shows, Video Games industries, Movie industry (like Hollywood), architecture, advertising and so on. Indonesia need to promote such industries at home, look at how BTS korean pop idol worth, they worth billion US dollar alone, popular video game like mobile legends, warcraft, call of duty and so on worth billion US dollar each. This generate a lot of income if nurtured carefully and being protected by proper and advance patent law.

 

[NEKONEKO]

that's where the innovative and creative industry playing a significant roles here, as an example Japan anime industries can generate dozens billion US dollar from their anime TV alone, there is merchandise industries, manga publisher industries and so on. Heck there is another industries like TV shows, Video Games industries, Movie industry (like Hollywood), architecture, advertising and so on. Indonesia need to promote such industries at home, look at how BTS korean pop idol worth, they worth billion US dollar alone, popular video game like mobile legends, warcraft, call of duty and so on worth billion US dollar each. This generate a lot of income if nurtured carefully and being protected by proper and advance patent law.

And the new stuff, virtual idols.

 

[Nike]

And the new stuff, virtual idols.

though i know meme generator and emoji maker earn lot of money too,

 

[Viet]

Lol, you're shifting the goalpost by setting a arbitrary line to suit your argument. Why 30mil? So countries like Netherlands and Australia should be excluded too? Why not 100mil? Then no country would have breached into the high income status except for the US and Japan.



All right then.

Singapore's GDP: $372bil
View attachment 647969
https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true

Assuming Singapore has a population of 30mil with ZERO additional GDP would still give us a GDP per capita of $12,400.

My point still stands. Absolutely valid to compare countries with similar landmass, population, history, economic background. Let’s say Thailand. Why Thailand is not reaching high income yet although it never suffers being a colony and be destroyed by wars?

Some posters here want to convince people thailand leads Asean because it buys Huawei 5g. Sorry, what’s that?

 

[Viva_Viet]

Lol, you're shifting the goalpost by setting a arbitrary line to suit your argument. Why 30mil? So countries like Netherlands and Australia should be excluded too? Why not 100mil? Then no country would have breached into the high income status except for the US and Japan.



All right then.

Singapore's GDP: $372bil
View attachment 647969
https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?most_recent_value_desc=true

Assuming Singapore has a population of 30mil with ZERO additional GDP would still give us a GDP per capita of $12,400.

SG is just a tiny red dot, wont survive more than 100 years.

 

[Mista]

My point still stands. Absolutely valid to compare countries with similar landmass, population, history, economic background. Let’s say Thailand. Why Thailand is not reaching high income yet although it never suffers being a colony and be destroyed by wars?

And the point I'm saying is that they will get there one day as long as there's positive real economic growth and the WB doesn't raise the threshold. Whether it's 10 years or 30 years.

That's mathematically true and it doesn't matter about it's landmass, population, or history whatsoever. Poster boy countries for middle income trap like Chile and Uruguay are already considered high-income.

Even the world's average is approaching high-income status in 5 years' time with a real growth rate of 3%.

Prove me wrong mathematically otherwise.

 

[Viet]

And the point I'm saying is that they will get there one day as long as there's positive real economic growth and the WB doesn't raise the threshold. Whether it's 10 years or 30 years.

That's mathematically true and it doesn't matter about it's landmass, population, or history whatsoever. Poster boy countries for middle income trap like Chile and Uruguay are already considered high-income.

Even the world's average is approaching high-income status in 5 years' time with a real growth rate of 3%.

View attachment 648034

Prove me wrong mathematically otherwise.

There is a German saying: auf langer Sicht sind wir alle tot!
There is no certainty that we all will become rich in the long run.
Yes math never lies.
But there is one thing that is superior to math: politics.
If you let a rich country as Venezuela to be run by a former bus driver then the outcome will be ugly.
On your list
Venezuela is bankrupt.
Argentina is bankrupt.
Brazil will be bankrupt soon too.
If Turkey continues the path of Erdogan, the country will head to bankruptcy.

 

[Mista]

There is a German saying: auf langer Sicht sind wir alle tot!
There is no certainty that we all will become rich in the long run.

What's the definition of 'rich'?

'Rich' is a relative term. If someone is rich, that means there's someone poor. Therefore by definition, it's not possible for all to become 'rich'.

But the 'high-income' definition set by the WB is not relative. It's a fixed threshold which adjusts every year only for inflation.

 

[Brainsucker]

that's where the innovative and creative industry playing a significant roles here, as an example Japan anime industries can generate dozens billion US dollar from their anime TV alone, there is merchandise industries, manga publisher industries and so on. Heck there is another industries like TV shows, Video Games industries, Movie industry (like Hollywood), architecture, advertising and so on. Indonesia need to promote such industries at home, look at how BTS korean pop idol worth, they worth billion US dollar alone, popular video game like mobile legends, warcraft, call of duty and so on worth billion US dollar each. This generate a lot of income if nurtured carefully and being protected by proper and advance patent law.

But not as manufacturing center.

What's the definition of 'rich'?

'Rich' is a relative term. If someone is rich, that means there's someone poor. Therefore by definition, it's not possible for all to become 'rich'.

But the 'high-income' definition set by the WB is not relative. It's a fixed threshold which adjusts every year only for inflation.

Yes, rich is relative. Like Hongkong is a High Income city. But with their over priced tiny apartments, expensive food, etc, I think it is better to live in middle city in Indonesia. yes, maybe they're rich because has more money than me. HKD value is higher than Rupiah. But to live in bigger house, owning multiple vehicles like cars and motorcycle, cheap food, etc. Hell, I live like a king if compared to ordinary Hongkonger. Despite my house is way cheaper than those over priced apartment there. And maybe my cars etc are also cheaper than theirs.

 

[Menthol]

Finally!!!

I hope we reach a high-income country as fast as it can.

Can you imagine, you work hard every day...

But still, it's hard to buy a basic modern standard stuff, like a car, smartphone, laptop, etc.

I don't think humans deserve to live poor.