It's commonly thought that the so called first world is rich. It's not true.

For example, the US on average is twice as poor as the average person in China in terms of housing cost. On average China spends 8% of their take home wage on housing, thanks 0 property taxes and super low cost of building, compared to 22% US average. Avg condo size is slightly larger in the US about 15%. And yes the vast majority of housing in China has electricity, sewage and wayer

However the US is very food rich. Only 13% of us consumer spending is needed for food, as opposed to 35% in China and even more in 3rd world countries

Sure developed countries can afford much more cell phones and merchandise but the necessities of life are housing health insurance and education