• @Faresh@lemmy.ml
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    2 years ago

    Does this take into account the cost of the means of subsistence? I think that is an important factor to be taken into account, since having a high income won’t bring you much if you can’t buy anything with that money.

    This may also probably be a stupid question, since high costs of living would constitute inflation, and as such decrease the value of the currency, which is taken into account when converting between currencies. So that question would only be relevant when comparing between countries using the same currency.

    • ☆ Yσɠƚԋσʂ ☆OP
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      42 years ago

      Cost of living is far lower in China than in Europe, especially now that there is a huge energy crisis unfolding in Europe.

    • From the context, it doesn’t, it’s just flat wealth number, which looks better for Europe since afaik average costs of living in China are much lower.

      Also as the author stressed themself giving the Belgium example, it’s very thick comparison, since both compared areas are huge and not homogenous.

      No clue about the inflation, i would assume such statistics would include it since it would be completely worthless without it.