Group items tagged

"Human Development Index HDI is advanced as being a better indicator than "GDP per capita" in measuring the progress of Nations. HDI is calculated by UNDP from indicators for health, education and living standard (income/person). The methodology is quite complicated but it well documented http://hdr.undp.org/en/statistics/hdi/ BUT look at a plot of the correlation between HDI and GDP/capita or all countries in Gapminder World www.bit.ly/XxQw0B "

In particular, the OECD's projections for 2060 (at constant purchasing-power parities) show the impact of fast catch-up growth in underdeveloped countries with big populations. Economic power will tilt even more decisively away from the rich world than many realise. In 2011 the current membership of the OECD made up 65% of global output, compared with a combined 24% for China and India. By 2060 the two Asian giants will have a 46% share of world GDP, the OECD members a shrunken 42%. India's economy will be a bit bigger than America's, China's a lot.

Interactive comparison map