Re: HOW WELL HAS PAKISTAN DONE?
even purchasing power is flawed.
It should be the GDP and living standard of the person and the rating of the government
Yeap! PPP derived numbers are just that! numbers! The theory was developed in the early part of last century, when globalization was not around.
Right now if you want to buy a Big Mac in Pakistan, India, or BDesh, it is going to cost you pretty penny even in dollars.
Goods and services used to be isolated 100 years ago. Right now you can buy a piece of real estate in Bombay, Karachi, or Tokyo with a click of mouse (Ok a bit more clicks but ya'll got the point).
That's why a nicely put apartment in Karachi or Bombay will cost you so high that you better have $$$ to pay for.
Why because the investors can now look at the whole world and find the opportunities. That in turn equalizes the prices in mid to long term.