Originally posted by Salman:
They are 5 times our population and they have vast natural resources, so is their GDP at least 5 times ours?
What about per capita GDP? Why do you not want to hide it from us?
The per capita GDP is there to be clicked for each respective country - is there anything to hide ?
In anycase, when comparing per capita GDP - does it make any real sense that benefit the discussion in any effective way ?
What does the per capita GDP indicate in the real world ?
If you wish to embark on a hypothetical argument why do you not compare Singapore with Hong Kong - both being a city state, with no resources:
Singapore Population: 4,425,720
Total Area: 692.7 sq Km
Land : 682.7 sq Km
Water : 10 sq Km
GDP - real growth: 4.5% (2005 est)GDP - composition by sector:
agriculture: 0.0%
industry: 33.6%
services: 66.4%
Labor Force: 2.19 million
Unemployment: 3.4%
Hong Kong Population: 6,898,686
Total Area: 1,092 sq Km
Land: 1,042 sq Km
Water: 50 sq Km
GDP - real growth: 7% (2005 est)GDP - composition by sector:
agriculture: 0.1%
industry: 10%
services: 89.9%
Labor force: 3.58 million
Unemployment: 5.8%
Malaysia Population: 23,953,136
Total area: 329,750 sq Km
Land : 328,550 sq Km
Water: 1,200 sq Km
GDP - real growth: 5.1% (2005 est)GDP - composition by sector:
agriculture: 7.2%
industry: 33.3%
services: 59.5%
Labor force: 10.67 million
Unemployment: 3.6%
One can draw a multiple of reasons for the disparity of economic results to fit into one's specific agenda, is there any use in any discussion in this direction ?
Should it not be enough to compare economic performance based on factors that will
trickle down to benefit the last man in line in the respective countries ?
For Malaysia with a labor force comprising 10.67 million, we would have to look at the sector in which the labor is applied, and which explains for the low unemployment rate of 3.6% that is comparable to Singapore's unemployment rate of 3.4%.
Is Malaysia doing a comparatively good job for its people - considering the size of the country and its population ?
If you wish to compare GDP figures, perhaps you may want to compare the GDP Purchasing Power Parity for each country:
Hong Kong at $254.2 Billion (2005 est)
Singapore at $131.3 Billion (2005 est)
Malaysia at $248 Billion (2005 est)
What is GDP Purchasing Power Parity - you may wish to ask ?
The answer given in the CIA Fact Book is:
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States.
This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries.Do we wish to use figures that blind us to the Real World ?