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| In conversations with Marketplace Morning Report hosts Bill Radke and Steve Chiotakis, Stephan Richter explores intriguing angles on the global economy. |
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China Vs. India Everyone knows that Asia's economic fortunes are rising. And no two emerging economies are as important as China and India. But how do living standards in the two countries compare? Is China's per person income... A) The same as India's The correct answer is D. In China, per person income is $3,600, nearly four times higher than India's $980. However, when you adjust incomes for purchasing power, average income in China stands at $6,400- compared with $2,900 for India (according to data provided by the World Bank). That gives you a more realistic sense of what the average Chinese or Indian is making in a global, comparative context. Interestingly, back in 1990, China and India had about the same per person income of $350. By 2000, China had more than doubled India's income, at $950 for China versus just $450 for India. In comparison, per capita income in the United States is around $45,000, which is more than seven times higher than China's, when adjusting for purchasing power. So both China and India have a lot of catching up to do.
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The Marketplace Globalist Quiz is produced by Marketplace and The Globalist — and researched by The Globalist's Mike McCarthy. The text of this Marketplace Globalist Quiz may not be reproduced in any form without the express written permission of The Globalist. Copyright © 2009 The Globalist. |
