Talking about societal myths, Ross continues to present facts to dispell the myth that the USA and Canada are becoming a Third World country.
Yes, the USA and Canada are not becoming a Third World country based on the following reasons:
1. USA and Canada are top world economies
If we look at the G7, this is the global seven largest economies and this summary on here, which I grabbed off Wikipedia. And this one is sorted by purchasing price parity GDP. You see that the USA is at the top per capita, followed by Germany, then Canada.
So again the USA and Canada are right at the top of the world economies in terms of GDP per capita and in terms of… the USA obviously, the world’s largest single country as well in terms of GDP.
2. Among top 10 countries with high UN Human Development Index
This is the information from the UN Human Development Index of 2015. And HDI, human development index is made up of life expectancy, education, and income per capita.
So you can see, and again this information is off Wikipedia, Number 1 is Norway; 2 is Australia; number 8 is the USA; number 9 equal Canada and New Zealand; and then 14 for the UK because we have people from the UK and the Europe at the conference as well; 163 is Haiti with a ratio or development index of .483 compared with the US .915.
And so this is the difference between, the real difference between a Third World or a developing country and a well-developed country right on the top of the range. So, I think objectively from this information, Australia, USA, Canada, New Zealand, UK, the Nordic countries and Switzerland, all in the top of this index.
3. WEF Global Competitiveness: USA-3; Canada-13
World Economic Forum, Global competitiveness shows the USA at number 3 and Canada at number 13. So not only large economies with the very high human development index but also very competitive economies. And again, a prescription for success, not for the Third World tag if you like.
4. Infrastructure systems are globally competitive
In terms of infrastructure because that’s the field that we’re looking at in this presentation and at the conference, Hong Kong, and Singapore right at the top.
Obviously, a city-state not too hard to invest in the infrastructure, relatively limited area, the ability to build that really good infrastructure. Netherlands number 3; USA, 11; Canada, 14; Australia, 16.
As I commented before, New Zealand is a very young country, sparsely populated, a lot of infrastructure needed per head of population, we are at 28. And we’re continuing to build out infrastructure that’s going to go on for decades yet in New Zealand terms.
But again, the UK and the US right up in there in terms of the infrastructure.
5. In top 10 of world competitiveness ranking
IMD, another Swiss organization that looks at world competitiveness and they have USA 3rd overall: First in the economy, first in infrastructure in terms of their ranking. So, Canada 10th overall.
And again, doing very well in terms of those rankings, New Zealand 16th and Australia 17th.
So again, right up there in terms of total world, you know what we’re thinking 200 plus countries been in the top 10, to 15th is nothing to be sneezed at and demonstrates countries that are doing pretty well.