1. In your own words, explain the problems with measuring poverty (standard of living, absolute vs relative, HDI)

The standard of living – Economists usually use GDP to compare living standards in different countries. The nationals of a country with a higher GDP per head are likely to enjoy higher living standards than people living in a country with a lower GDP per head. However, this may be an inaccurate picture because the cost of living in some of the developing countries is much lower than in the developed countries. So, one US dollar may be able to purchase more things in developing countries than in developed countries.

HDI is a composite statistic of life expectancy, education, and per capita income indicators, which are used to rank countries into four tiers of human development. However this data is an average overview of all the recorded data, the unrecorded data is not considered or calculated and that were the gap falls through in the system.
Canada – The best way to measure poverty in Canada is absolute poverty because I think this way is the best way to measure people which are living in the same country. So that the cost of “necessities” is the same.

2. What do you think is the best way to measure poverty in Canada and the world.

Canada – The best way to measure poverty in Canada is absolute poverty because I think this way is the best way to measure people which are living in the same country. So that the cost of  “necessities” is the same.

World –  The best way to measure poverty in the world is HDI because it is looking at health, education, and income. Instead of just looking at the income and consumption, I think it is more comprehensive.

So, this is population chart and population pyramid  for China. The dependency ratio is 38.8, it’s low.

The birth rates of China have a slightly increase recently, while the death rates have a mineral decline. With the comparison of both sides of the population pyramid, the numbers of female and male are mostly balanced in most the age groups. But for cohorts under 40, there are fewer women/girls. Also, there is a large amount of population in the suitable workers’ age group. Accordingly, China now is on the stage 4, with two convex sides on the population pyramid, it’s a contracting population pyramid, where peoples have longer life expectancy with low birth rate and low death rate.

The big concern for China is the aging population that will require more social services and a lack of a workforce to pay for that. That’s why they recently exchanged the One Child Policy into a Two Child Policy.