@@RaduRadonys Ah okay PPP makes poorer countries seem richer, since the others in society also earn less and can thus provide cheaper service. Or the other way, the adavantage of living in Switzerland is offset by high prices there.
@@burgitech8643 Correct, PPP takes into account the local prices, which seems fair to me. We might have lower salaries in Romania compared to Western Europe but I pay for example 8 euros for 1Gbps fiber optic internet, so I can afford more with less money here.
The PPP corrector was created to prevent rich countries from appearing more rich than they actually are, e.g. due to the high costs of services that strongly distort the real picture
In the case of GDP, we are not talking about wealth but the size of a specific economy, so in the case of countries where labor costs are much higher than in other countries, this corrector allows to eliminate the factor that artificially inflates the size of this economy, because the taxi driver service in New York in the nominal sense is several dozen times more expensive than a taxi driver in Beijing, GDP in nominal terms does not take into account this anomaly, which makes the American economy seem larger than it actually is compared to the Chinese economy
Lithuanai no oil no gas but smart people
Polska
Czechia and Slovakia did not exist till 1993 so I don't know where you get the data from
From the outer space 👽 🤣
1990-1993 it was Czech and Slovakian federative republic, so there must exist separate data.
Lithuania❤
Go Europe, gooooo !!😅👏
Romania has only 20 k$ GDP/capita, Czechia only 31k$ / capita in 2024. These numbers are wrong somehow.
It's GDP PPP, not GDP.
@@RaduRadonys Ah okay PPP makes poorer countries seem richer, since the others in society also earn less and can thus provide cheaper service. Or the other way, the adavantage of living in Switzerland is offset by high prices there.
@@burgitech8643 Correct, PPP takes into account the local prices, which seems fair to me. We might have lower salaries in Romania compared to Western Europe but I pay for example 8 euros for 1Gbps fiber optic internet, so I can afford more with less money here.
The PPP corrector was created to prevent rich countries from appearing more rich than they actually are, e.g. due to the high costs of services that strongly distort the real picture
In the case of GDP, we are not talking about wealth but the size of a specific economy, so in the case of countries where labor costs are much higher than in other countries, this corrector allows to eliminate the factor that artificially inflates the size of this economy, because the taxi driver service in New York in the nominal sense is several dozen times more expensive than a taxi driver in Beijing, GDP in nominal terms does not take into account this anomaly, which makes the American economy seem larger than it actually is compared to the Chinese economy
Should be Middle and Eastern Europe. Poland, Slovakia, Czechia etc. are in the Middle...
Romania+Rep.Moldova will RISE once again 😛😋 Together !!! Two countries, one people !!!💔❤🩹💝💌👊👍👍👏👏♥
💙💛❤
wow we are the shampions..haha