China possibly most free market country in the world????

[potatokiosk]

Its not efficiency, its development per person. The well being of the people, the quality of life each person lives.

Economic efficiency would be more akin to productivity.

You're right but I was just trying to explain why China isn't number 3 in development.

 

[Theige]

You're right but I was just trying to explain why China isn't number 3 in development.

Its simple, they only started Industrializing about 30 years ago.

 

[devilhunterred]

You're right but I was just trying to explain why China isn't number 3 in development.

But using GDP per capital as classification for "third world" countries can be more deceptive than one may think.

For example, top three GDP rankings today are US, Japan, and China.

However if you rank them by GDP per capital, US immediately slips to the 9th spot, Japan to the 20th something and China, about 50th?

Top #1 country with the highest GDP per capita from the 2008 data is actually Qatar.

Yet many would agree that Qatar is by large still a developing country with numerous human rights and social issues.

 

[potatokiosk]

But using GDP per capital as classification for "third world" countries can be more deceptive than one may think.

For example, top three GDP rankings today are US, Japan, and China.

However if you rank them by GDP per capital, US immediately slips to the 9th spot, Japan to the 20th something and China, about 50th?

Top #1 country with the highest GDP per capita from the 2008 data is actually Qatar.

Yet many would agree that Qatar is by large still a developing country with numerous human rights and social issues.

I know that. I was just trying to explain that total output is a terrible way to measure development.