Originally posted by And Still
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you have no concept of how economics work.
the peso might be devalued but that only affects foreign goods.
bread made in philippines by filipinos using filipino ingredients are cheaper.
that's why filipinos gdp power purchasing parity calculating per capita is around double what it really is.
if you make P10,000 pesos in philippines your ppp is actually about P20,000 due to the low cost of filipino labor and filipino products.
the opposite is true for countries whose currency is stronger than the dollar.
take the japanese yen for example. it's cheaper for them to buy american goods than buy japanese goods.
their cost of living is much higher. their purchasing power parity gdp per capita is actually lower than their nominal gdp per capita.
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