“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.
The price of food is not based on employees wages alone.
You have the manufacture and distributor costs.
A big factor is energy and fuel rates.
Our purchasing power is going down thanks to O’Biden’s policies.