The USA is increasing its lead in per capita income (Purchasing power parity and nominal income) versus major European countries, Japan and Latin American and central american countries. Only faster growing asian countries are catching up in per capita income compared to the USA. The rate of catchup for Asian countries has slowed. The pandemic has stopped, slowed or reversed the rate of catchup for many world countries against the USA.
Japan, Italy and many European countries have aging populations and economies. They have been losing ground in terms of per capita income for over a decade.
Brazil and Mexico and other latin american countries have weak economies and have been losing ground in terms of per capita income for a long time.
China, South Korea and other asian economies have been catching up and continue to catchup. However, growth is slowing and populations are reaching an aging tipping point.
Written by Brian Wang, Nextbigfuture.com
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.