Saturday, 26 March 2011

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)

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