A country comparison of wealth

Following the previous post, it is only appropriate to do a cross-country comparison of per capita income.

Few takeaways from the graph:

• As has been pointed out in numerous research articles and the media, income growth in China and India has been nothing short of phenomenal in the last decade.
• However, income levels of these economies are still relatively low.
• In comparison, Malaysia's income level is one of the highest amongst the ASEAN-5 and BRIC economies, but growth has been relatively slow.
• Amongst the developed economies, the Newly Industrialized Asian Economies (NIEs, above) have enjoyed high levels of growth in income due primarily to the rise of the large emerging economies
• Income levels of the G7 nations remained relatively stagnant, revealing the extent of growth structural issues pre- and post- financial crisis (declining competitiveness, persistently high unemployment, low birth rates and high public debt levels)