No that’s not true.
The market does not work that way.
It’s not based on people’s salaries.
The price of gold is not cheaper in poorer countries. It stays the same.
What you clearly missed is the depreciation of the dollar and global trade.
“No that’s not true.
The market does not work that way.
It’s not based on people’s salaries.
The price of gold is not cheaper in poorer countries. It stays the same.
What you clearly missed is the depreciation of the dollar and global trade.”
Huh ? In “rich” countries you can’t pay people $2 per hour so prices of services or food are higher. That’s obvious. That’s why the best indicator to compare the economies is not nominal GDP but GDP adjusted by PPP.