Question

In 2012, China’s GDP was $8230 billion and that of Japan’s was $5960 billion. Does this mean that the people in China have a better standard of living than those in Japan? If yes, how do you support your choice? If no, what are your explanations to support your choice?

Defend your views by citing information from the Web and/or your own experiences. Post your response on the Discussion Board and then read and reply to the posts of at least two other students, citing those views with which you agree or disagree as well as your reasons for agreeing or disagreeing.

Answer 1

Answer - No , I do not agree with the point that Chinese will have a better standard of living because they have higher GDP. This is because we do not know about how the income has been distributed and what is the Average per capita Real GDP of both the nations. Per capita real GDP is a better measure than can measure the standard of living of the people. The pattern of income distribution and the inequalities in distribution also lend a hand in deciding the standard of living. Thus , all I can say , that country having greater GDP cannot claim to have better living standards. There are various other parameters to do so.