>I may not have a solid understand, but are we truly "rich" here? The wages may be significantly higher here, but isn't the cost of living also? Are there any charts, I wonder, that show the disparity in a balanced way?

No, I don't think you are truly "rich", at least, not all people over there are rich. The country in general is much richer, but unfortunately, there are not only extremes between rich and poor from one country to another, but also within a country.

On the other hand, consider a few points.

Here in Bolivia, there is an infant mortality rate of around 16% (more or less, IIRC). That is to say, that many children are born alive, and die before they reach 5 years.

Many African countries have a large problem with AIDS. Drugs are expensive, but according to one comment, if the disease could be cured with "a glass of clean water", this would still be inaccesible for many people.

Since labor is cheap, not only do I get less salary, but I also pay less if, say, I need an electric repair at home. But many articles have more or less standard prices on the World market. Cars, computers, electronic equipment in general, software, may be a little cheaper over here (due, in part, to contraband!), but there is not the 10:1 or more ratio in prices, which you see in salaries.