Which country can be called the richest country?
You will say that it is a simple matter, the country which has the most money will be called the richest country. But the answer to this question is not so straightforward.
Many other avenues are adopted to make the list of richest countries. Like comparing GDP ie GDP.
GDP means how much goods and services an economy produces every year.
If you look at the size, then according to the World Bank, America and China are the biggest economies.
And now if we divide that money by the number of people living there (called capita on GDP), the richest countries will be Luxembourg, Switzerland and Macao.
Although all the above things are fine, but many economists check the health of the economy and find out that it is rich.
For this, they see what is the purchasing power of the people of a country. At the same time, they also try to understand how there is a similarity in the purchasing power of different citizens of that country.
According to this method, Singapore, Brunei and Kuwait are the richest countries after Qatar, Macao, Luxembourg.
These countries are followed by the United Arab Emirates, Norway, Ireland and Switzerland.
A country with huge reserves of oil and natural gas tops the list of Qatar rich countries.
For the past several years, Qatar has retained the first position in the list of rich countries. However, in 2013 and 2014, Macao overtook Qatar. But again in 2015 he returned to the second position.
Macao's economy (an autonomous region on China's southern coast) is mainly dependent on tourism and the casino industry.
At the same time, the economic development of the European country Luxembourg has come from the management of investment and the benefit of private banks. Luxembourg's tax system is quite sluggish due to which banks here are earning a lot of profit.
10 countries with deep inequality
'Guinea coefficients' are a way of measuring the gap between rich and poor. Its scale varies from zero to one. In this, zero means completely uneven.
However this method is also criticized.
South Africa, Hathi and Honduras are included in the list of the world's most unequal countries, according to World Bank data.
These countries are followed by Colombia, Brazil, Panama, Chile and Rwanda, Costa Rica and Mexico.
What is happening with Latin America?
Indeed, Latin America and the Caribbean are the most unequal regions of the world. Sub-Saharan Africa is named after them.
And out of the list of 10 unequal countries, eight are from one region and two are African countries.
Meanwhile, economists of the World Bank say that Latin America has succeeded in bridging the gap between rich and poor in recent years.