It’s also important to consider GDP and GDP PPP doesn’t consider unpaid labor. Housework, taking care of kids, etc. if it’s not paid. I don’t have any metrics on this, but in China it’s extremely common for families to be more tight knit compared to the US with the atomic (parents/kids) family. There is also a lot of unpaid work, such as grandparents taking care of the kids instead of a babysitter. Not only does this on one hand reduce GDP, but it’s socially preferable in that there is more of a familial social safety net on top of the public/governmental one.
Yup i mean my income would be quite good in China, but in America im fucking destitute. lol.
It’s also important to consider GDP and GDP PPP doesn’t consider unpaid labor. Housework, taking care of kids, etc. if it’s not paid. I don’t have any metrics on this, but in China it’s extremely common for families to be more tight knit compared to the US with the atomic (parents/kids) family. There is also a lot of unpaid work, such as grandparents taking care of the kids instead of a babysitter. Not only does this on one hand reduce GDP, but it’s socially preferable in that there is more of a familial social safety net on top of the public/governmental one.