Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) - Foreign Affairs (6509) - Nairaland
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Am I The Only One Whos Tired Of This Kenya Is Ahead Thread / Femi Adesina: "I Don't Lie, No Matter What"; Nigerians React / Kenyans Are Far Behind Nigerians In Every Aspect – Fani-Kayode (2) (3) (4)
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| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 9:48am On Feb 23, 2020 |
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| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 9:50am On Feb 23, 2020 |
Just30:dude be clear ..what ths  |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 9:52am On Feb 23, 2020 |
mtisTheQubit:you are really dumb now im laughing  you still dont has the economic might of Ghana with a 226 billion economy whiles Kenya has 206 billion. those are the FACTS |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 9:53am On Feb 23, 2020 |
mtisTheQubit:that is the share of the Global economy by each country. you can freely play with it |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 9:55am On Feb 23, 2020 |
Just30:A sorry Ghana smart guy just tell me what imf thinks about ths two countires..clue one is resourceless while the other its a colony full of oil,gold an cocoa beans 4 Likes 2 Shares
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| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:00am On Feb 23, 2020 |
mtisTheQubit:you can save yourself the shame and snap the entire page what a shame kenya dont hide the 226 and 206 you cant erase FACTS
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| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:01am On Feb 23, 2020 |
Just30:IMF says compare yourself with uganda..just check Uganda down there my friend... 2 Likes |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:06am On Feb 23, 2020 |
mtisTheQubit: IMF says, your economy is underdeveloped and smaller than Ghana's you can take it up with them 1 Like |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:10am On Feb 23, 2020 |
Just30: funny for a small country like ghana to compare..your economy even less than tanzania an closer to uganda...go play with your mates..bythe way once you understand what ppp stands for then come an we gonna have a mature debate..for the time being just post sokoto to amuse folks.. 1 Like |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:10am On Feb 23, 2020 |
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| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:14am On Feb 23, 2020 |
@Just30 i feel like i be posting educative stuff just for you... Key points The size of a nation’s economy is commonly expressed as its gross domestic product, or GDP, which measures the value of the output of all goods and services produced within the country in a year. *GDP is measured by taking the quantities of all final goods and services produced and sold in markets, multiplying them by their current prices, and adding up the total. GDP can be measured either by the sum of what is purchased in the economy using the expenditures approach or by income earned on what is produced using the income approach. The expenditures approach represents aggregate demand (the demand for all goods and services in an economy) and can be divided into consumption, investment, government spending, exports, and imports. What is produced in the economy can be divided into durable goods, nondurable goods, services, structures, and inventories. To avoid double counting—adding the value of output to the GDP more than once—GDP counts only final output of goods and services, not the production of intermediate goods or the value of labor in the chain of production. The gap between exports and imports is called the trade balance. If a nation's imports exceed its exports, the nation is said to have a trade deficit. If a nation's exports exceed its imports, it is said to have a trade surplus. 1 Like |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:16am On Feb 23, 2020 |
@just30 PPP Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts that compares different countries' currencies through a "basket of goods" approach. 1 Like |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:17am On Feb 23, 2020 |
mtisTheQubit: Thank for tickling my fancy this morning Kenya will always be a circus. once you know what PPP is, you will know why China is today the world largest economy and a domineering force. a small economy like Kenya, always trying to compare itself with countries that are far above them. whiles you guys play the clowns in the circus, Tanzania is zooming pass you. 4 Likes |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:22am On Feb 23, 2020 |
Just30:Some things i can take from a Nigerian but a Ghana nah ... please nigga ya just a small country trying to to be relevant ..sorry my friend |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:22am On Feb 23, 2020 |
mtisTheQubit:exactly so this is why PPP is considered the most appropriate way to measure a countries total goods and services traded at current prices. Calculating for purchasing power parity allows economists to determine the cost of living in other countries compared to the United States. PPP is a good tool for comparing GDP outputs between nations. It is also used to determine which have large or small economies. This is why the IMF use PPP in all it comprison between economies The IMF knows that, the prices of goods and services are not the same in two economies. PPP gives them the accuracy |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:25am On Feb 23, 2020 |
Just30:we are comparing the economy size not cost of living idiot... Now again.. Purchasing power parity (PPP) is a popular metric used by macroeconomic analysts that compares different countries' currencies through a "basket of goods" approach. |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:26am On Feb 23, 2020 |
your ego will kill you whether you take it or not the pain will still remain in you as long as the facts stir you in the face mtisTheQubit: |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:26am On Feb 23, 2020 |
Just30:GDP ppp won't tell you anything, it's basically a facade not going into the root difference,. If your dysfunctional brain is deceiving you about the basics economics you need to upgrade it. For instance China having bigger ppp than USA doesn't means China is enjoying life than USA. The quality of consumption really matters. Your productivity will be meaningless if you travel to other countries, your low quality services which will favour the natives will not apply to advance nations with high nominal GDP, it is biased towards a bigger ppp compared to nominal GDP and that should tell a lot about the cases in in Africa (Nigeria vs south Africa) Europe(Israel vs Iran) and maybe China vs USA. The bottom line is that you are nothing when you go to other nations. Your products and services will be useless when converted to foreign currency. You will not enjoy the confined cheap life you used to enjoy at your country and that's why GDP nominal is always superior to your so called PPP 2 Likes |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:27am On Feb 23, 2020 |
mtisTheQubit:we are both saying the same thing what do you think that basket of goods is ? Calculating for purchasing power parity allows economists to determine the cost of living in other countries compared to the United States. PPP is a good tool for comparing GDP outputs between nations. It is also used to determine which have large or small economies. |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:29am On Feb 23, 2020 |
Just30:there is no facts here just mumbling an stuff.. anyway, i got no biggie with Ghana just that i like to compare kenya economy with other bigger economies |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:34am On Feb 23, 2020 |
Shma:ah but who said China is enjoying life than USA The USA has 6 times the per capita of China, so it is obvious the USA is enjoying life than China. But it is factual that China has the largest economy. If anything is a farcade, GDP is because GDP is the most inaccurate way to compare economies today. PPP considers a huge set of data than GDP. the rest of your argument is rubbish Today, everyone wants Chinese tourist because they turn to be the largest spenders. This has nothing to do with whether their country has a higher nominal GDP per capita or not. It all has to do with disposable incomes Chinese have more disposable incomes than Americans. advise DONT jump into conversations that you have the least understanding of. 1 Like |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:35am On Feb 23, 2020 |
mtisTheQubit: the IMF says otherwise #FACTS looking at you in the face |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:35am On Feb 23, 2020 |
Shma: am just playing along with just30...you know if he gets something ahead of Kenya even if its about eating banku he will stick to that... |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:38am On Feb 23, 2020 |
Just30:IMF is correct in what it posts...e.g your economic size is half ours...the problem is that you really don't understand what PPP is..do you..explain to me without copying an pasting stuff please.. Am waiting 2 Likes |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:39am On Feb 23, 2020 |
mtisTheQubit: but I like how you're spoon feeding him |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Stevoh18: 10:42am On Feb 23, 2020 |
Shma: Good explanation.... He should now shut up....tho' as,expected he won't |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:44am On Feb 23, 2020 |
Just30:I just told you to go upgrade your head, you don't know anything to do with economics. Where in my sentiments did you see tiny Ghana being mentioned? I was only trying to give out examples with big nations like China and USA and I said Chinese can not enjoy life in USA putting in mind their huge ppp dominance over USA. |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Stevoh18: 10:45am On Feb 23, 2020 |
Just30: Can u substaiate/ provide more details |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Aderr: 10:46am On Feb 23, 2020 |
samorobo: |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:48am On Feb 23, 2020 |
mtisTheQubit:Read what PPP is We economist use PPP for so many things These are a few learn Purchasing power parity (PPP) is an economic theory that allows the comparison of the purchasing power of various world currencies to one another. It is a theoretical exchange rate that allows you to buy the same amount of goods and services in every country. Government agencies use PPP to compare the output of countries that use different exchange rates.1 You could use it to find out where to get the cheapest hamburger in the world. PPP Calculation The purchasing power parity calculation tells you how much things would cost if all countries used the U.S. dollar. In other words, it describes what anything bought throughout the world would cost if it were sold in the United States. The total of all those goods and services equals the country's economic output. Add the number produced in a year and you get the country's gross domestic product (GDP) as measured by PPP. Parity is tedious to compute. A U.S. dollar value must be assigned to everything. That includes items not widely available in America. For example, there aren't too many ox carts in the United States. Also, it is doubtful that the cart's U.S. price would accurately describe its value in rural Vietnam, where it's needed to grow rice. The World Bank computes PPP for each country in the world.2 It provides a map that shows the PPP ratio compared to the United States.3 For many developing countries, the PPP is estimated using a multiple of the official exchange rate (OER) measure. For developed countries, the OER and PPP measures are more similar. These two values are similar because the standards of living in developed countries are closer to those of the United States.1 How to Use PPP An economist will use the PPP to compare the economic output of different nations against one another. It might be bused to determine which country has the world's largest economy. The theoretical value is also helpful to traders in foreign currency and investors holding foreign stocks or bonds as it helps to predict fluctuations in international currency and indicate weakness.2 Although it doesn't happen often, PPP is also used to set the exchange rate for new countries. It is also used to forecast future real exchange rates. Purchasing power parity finds its greatest use in macroeconomic studies as you compare GDP. Because all countries don't use the U.S. dollar, values can be skewed. For example, China produced 94.8 trillion yuan's worth of goods and services in 2018. Using an exchange rate of 6.97 yuan per dollar, that's $13.61 trillion U.S. dollars. The United States produced $20.54 trillion.4 However, most of the difference between the two is because the cost of living in China is much lower than it is in the United States. Since this method depends on exchange rates, China's GDP will change when its exchange rate changes. Comparing a Country's Output PPP recalculates a country's GDP as if it were being priced in the United States. The CIA World Factbook calculates PPP to compare output among countries.5 It estimated that China's 2017 GDP was $23.1 trillion. It's much more than the U.S. GDP of $19.4 trillion. According to PPP, China has the world's largest economy.1 You could also use PPP to find out where you could get a McDonald's Big Mac for less. In June 2019, the U.S. Big Mac cost $5.74. In China, you can get the same thing for only $3.05. The Economist's Big Mac Index reveals what a Big Mac costs in 55 countries.6 The Big Mac Index is published each year by The Economist and was created in 1986. The Big Mac Index Burgernomics—the study of the Big Mac index—can give an informal measure of the PPP. Like most other sandwiches, the Big Mac doesn't travel well in its final form so it's not exported. Most of its price depends on local labor and restaurant rental costs. Since labor in China is less expensive, the Big Mac costs less to produce one unit than it does in the United States. The Big Mac Index will tell you a lot about a country's cost of living. If you want to live cheap, and you can move to any country in the world, use the Big Mac Index. Thanks to McDonald's standards, a Big Mac is basically the same sandwich anywhere in the world. You aren't getting a smaller sandwich in China because it's almost $2 cheaper. Purchasing power parity solves this problem. It recalculates the value of a country's goods and services as if they were being sold at U.S. prices. History PPP was created after World War I. Before then, most countries relied on the gold standard. A country's exchange rate told you how much gold the currency was worth. Most countries abandoned the gold standard to pay for the war. They printed all the money they needed, creating inflation. After the war, the Swedish economist Gustav Cassel suggested multiplying each currency's pre-war value by its inflation rate to get the new parity. That formed the basis for today's PPP.7 PPP Theory Purchasing power parity is based on an economic theory that states the prices of goods and services should equalize among countries over time.8 International trade allows people to shop around for the best price. Given enough time, this comparison shopping allows everyone's purchasing power to reach parity or equalization. Why We Don't Live in a PPP World PPP depends on the law of one price. That states that once the difference in exchange rates is accounted for, then everything would cost the same. That's not true in the real world for four reasons. First, there are differences in transportation costs, taxes, and tariffs. These costs will raise prices in a country. Countries with many trade agreements will have lower prices because they have fewer tariffs. Socialist countries will have higher costs because they have more taxes. A second reason is that some things, like real estate and haircuts, can't be shipped. Only ultra-wealthy global travelers can compare the prices of homes in New York to those in London. A third reason is that not everyone has the same access to international trade. For example, someone in rural China can't compare the prices of oxen sold throughout the world. But Amazon and other online retailers are providing more real purchasing power parity to even rural dwellers. A fourth reason is that import costs are subject to exchange rate fluctuations. For example, when the U.S. dollar weakens, then Americans pay more for imports. The most significant driver of changing exchange rate values is the foreign exchange market. It creates wide swings in exchange rate values.9 For example, in 2014, many traders shorted the euro. The European Union's currency dropped. As a result, costs throughout the EU also fell. When traders began shorting the U.S. dollar in 2017, the dollar weakened. The Bottom Line The best way to understand PPP is to study the Big Mac Index. This index was created as a humorous attempt to illustrate how the PPP worked by comparing the prices of a globally sold product, the McDonald’s Big Mac burger. The Big Mac Index has been published in The Economist since 1986. Calculating for purchasing power parity allows economists to determine the cost of living in other countries compared to the United States. PPP is a good tool for comparing GDP outputs among nations. It is also used to determine which have large or small economies. But since it involves many factors such as differences in taxes, tariffs, transportations costs, import costs, and the like, the PPP calculation is highly complex. This is best done by experts. |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Nobody: 10:49am On Feb 23, 2020 |
Shma: ths Ghanaians are depressing sometimes..their arguments never ends even if they face defeat... |
| Re: Kenya Is Ahead of Nigeria In All Aspect (Facts Don't Lie) by Just30: 10:49am On Feb 23, 2020 |
mtisTheQubit:now you are afraid of facts Good boy stay in line |
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