Monday, March 1, 2021

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Kieron Pollard’s Country Ranked Higher Than India, Russia, China For Living Standards

West-Indies cricket captain and star of Mumbai Indians – Kieron Pollard’s country has been ranked higher than India, China and Russia for standard of living. Trinidad and Tobago is the southernmost island country in the Caribbean consisting of the main islands Trinidad and Tobago, and many other much smaller islands.

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Trinidad and Tobago has produced some of the greatest players for the West Indies cricket including Brian Lara and Dwayne Bravo.

Trinidad and Tobago has been ranked 49th—high­er than 142 coun­tries glob­al­ly—in terms of stan­dard of liv­ing. The ratings are based on the Gross Do­mes­tic Prod­uct (GDP) on pur­chas­ing-pow­er-par­i­ty (PPP) per capi­ta.

This is in­di­cat­ed in a Glob­al Fi­nance ar­ti­cle from the In­ter­na­tion­al Mon­e­tary Fund (World Eco­nom­ic Out­look) on the World’s Rich­est Coun­tries 2019.

The ar­ti­cle writes that the richest na­tions are among the tini­est glob­al­ly. The rank­ings which were cal­cu­lat­ed on val­ues are ex­pressed in cur­rent in­ter­na­tion­al dol­lars, to the near­est whole dol­lar, re­flect­ing a sin­gle year’s (2018) cur­ren­cy ex­change rates and PPP ad­just­ments.​

The ar­ti­cle analysed how a coun­try is seen as rich, “Es­pe­cial­ly in an era of increasing in­come in­equal­i­ty be­tween the rich and every­one else. While gross do­mes­tic prod­uct (GDP) mea­sures the val­ue of all goods and ser­vices pro­duced in a na­tion, di­vid­ing a coun­try’s GDP by the num­ber of the full-time res­i­dents is a bet­ter way of de­ter­min­ing how rich or poor one coun­try’s pop­u­la­tion is rel­a­tive to an­oth­er’s.”

Ac­cord­ing to the ar­ti­cle, “The rea­son why ‘rich’ of­ten equals ‘small’ then be­comes clear: these coun­tries’ economies are dis­pro­por­tion­ate­ly large com­pared to their com­par­a­tive­ly small pop­u­la­tions.”

“How­ev­er, on­ly when tak­ing in­to ac­count in­fla­tion rates and the cost of lo­cal goods and ser­vices can we get a more ac­cu­rate pic­ture of a na­tion’s av­er­age stan­dard of liv­ing: the re­sult­ing fig­ure is what is called pur­chas­ing pow­er par­i­ty (PPP), which is of­ten ex­pressed in­ter­na­tion­al dol­lars in or­der to al­low com­par­isons be­tween dif­fer­ent coun­tries,” the ar­ti­cle stat­ed

In the list, Trinidad and Tobago was ranked 49th, beat­ing out Chi­na, In­dia, Pak­istan, near­ly all African states, sev­er­al Eu­ro­pean coun­tries—in­clud­ing Greece—and most Caribbean coun­tries including Ja­maica, An­tigua and Bar­bu­da.

Re­gion­al­ly, on­ly the Ba­hamas was above Trinidad and Tobago along with de­vel­oped na­tions in­clud­ing the US, UK France, Sau­di Ara­bia, Switzer­land, Ger­many, Spain etc.

Trinidad and Tobago  al­so bettered Rus­sia and sev­er­al other Asian, Mid­dle East and South American nations including Lebanon, Mex­i­co, Ar­genti­na and Brazil.

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