I find this an interesting list to compare the Gross Domestic Product of various Countries:Source
I thought that GDP was a measure of the standard of living in a given country. Difficult to believe that China is second only to America in that department!
GDP stands for Gross Domestic product. Certain countries like China can have a high GDP because they have high exports but have a poor standard of living.
|The major disadvantage of using GDP as an indicator of standard of living is that it is not, strictly speaking, a measure of standard of living. GDP is intended to be a measure of particular types of economic activity within a country. Nothing about the definition of GDP suggests that it is necessarily a measure of standard of living. For instance, in an extreme example, a country which exported 100 per cent of its production would still have a high GDP, but a very poor standard of living.|