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[-] Objection@lemmy.ml 2 points 5 months ago

The $2 per day is a figure used by the World Bank. According to this page:

The welfare of people living in different countries can be compared by adjusting for differences in the purchasing power of their currencies.

I don't know the exact details of the World Bank's methodology, but I believe the $2 figure is adjusted based on purchasing power.

[-] papertowels@lemmy.one 3 points 5 months ago

That sent me down a cool rabbit hole, thanks!

Industrialization is a hell of a drug. During the same period apparently the wealth gap shot up, so chinas got that to contend with. Best of luck to them.

this post was submitted on 19 May 2024
673 points (93.2% liked)

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