Exploring the complexities of GDP measurement, this chapter uncovers what falls outside GDP figures, such as non-final goods and household industries. It also examines how individuals in developing economies like the DRC rely on self-sufficiency, while discussing purchasing power parity and the role of specialization in economic progress.
With GDP per capita of just $2 per day, the Democratic Republic of the Congo is one of the poorest, if not the poorest nation on Earth. However, this does not have to be the case. The country has massive deposits of rare earth minerals including Cobalt, which is an essential input to the production of lithium-ion batteries. The mineral resources are estimated to be worth $24 trillion. So why is the DRC so poor?
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