There are various indicators that contribute to a populations quality of life or economic development one of the major ones is GDP per capita which refers to the measure of the total output of a country that takes gross domestic product. When comparing Australia and China’s economy, Australia’s GDP per capita is $68940.87 AUD, while China’s is much lower at $8755.67 AUD per capita. This tells us that Australia has a higher GDP per capita that is higher than China, meaning the population’s quality of life is much higher as each person has more money however overall China has a much higher GDP due to their rapid economic growth. The quality of life is made up of various indicators which are measured in the Human Development Index or HDI.
This is a number that represents the quality of life for a country. Australia’s HDI is 0.939 out of 1.0, and China’s HDI is 0.738 out of 1.0 (Figure 1 China) and (Figure 2 Australia) illustrate the previously explained data below.