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Well........ of course, incomes and GDP per capita are higher in the US, UK, Europe and so on. The point is that the emerging markets personal incomes, GDPs are on the rise.
When China becomes the number 1 by GDP, personal incomes will still be lower than people in the US, UK, and so on. It takes a lot longer for GDP per capita to rise.
As for the US standard of living, well in order to be a sustainable economy (ie fix the deficit and the national debt) there has to be a serious re-adjustment and it will take time but its very much likely that in coming decades there will be less of a sharp distinction in standard of living between western economies and emerging markets as a global rebalancing takes place.
Right now, UK, US, parts of Europe are not sustainable.
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