RE: GDP?31 May 2025 13:54
Emerging markets nom.
from memory,80% of the indian population is below the poverty line,millions of small holding farmers,with small acreages and so small incomes.
so when averaged out,thats why the average income in dollars,is so low
that's typical of frontier and emerging markets,all the wealth is spread unevenly,like in big cities/ports etc.
then over time,them farming economies go into news sectors and the poverty declines.
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china;s a well know example,30 years ago it was a frontier market until they borroewed multi billions of loans from the west,to rebuild the countries infrastructure,it grew at 10% a year and now only 10/20% of the population,live below the poverty line.
.
ethiopia....the last time i looked,a frontier market.....now growing at 10/15% gdp and average waelth,like india's,very low.
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going by memory,so your AI machine,will know the exact data