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Keldar · 01-14-2006, 06:27 PM

Japan's economy is almost four times that of ROK because Japan's population is almost three times that of ROK. It doesn't mean that ROK is uncomparable economically with Japan, the two are pretty much on the same level of economic development, which is evident from GDP per capita of both countries: ~ 19,000 US$ for ROK and ~29,000 US$ for Japan.

To illustrate, the US GDP was 11.75 trln US$ in 2004, while that of Japan in the same year - 3.75 trln, which is over 3x difference. GDP per capita in the US was almost twice that in Japan. Yet the two countries' economies are perfectly comparable, and both of them are classified as "developed". For further illustrations you can compare the economies of Japan and Switzerland, or the US and Luxembourg.

Furthermore, in specialized studies on the economy of Northeast Asia, bundling ROK and Japan economically had become a custom that doesn't even require a justification anymore. Especially when talking about capital and technology sources in the region.

P.S. All data - CIA purchasing power parity estimates.

01-14-2006, 06:27 PM	#102
Keldar New Member Join Date: Sep 2002 Posts: 13	Japan's economy is almost four times that of ROK because Japan's population is almost three times that of ROK. It doesn't mean that ROK is uncomparable economically with Japan, the two are pretty much on the same level of economic development, which is evident from GDP per capita of both countries: ~ 19,000 US$ for ROK and ~29,000 US$ for Japan. To illustrate, the US GDP was 11.75 trln US$ in 2004, while that of Japan in the same year - 3.75 trln, which is over 3x difference. GDP per capita in the US was almost twice that in Japan. Yet the two countries' economies are perfectly comparable, and both of them are classified as "developed". For further illustrations you can compare the economies of Japan and Switzerland, or the US and Luxembourg. Furthermore, in specialized studies on the economy of Northeast Asia, bundling ROK and Japan economically had become a custom that doesn't even require a justification anymore. Especially when talking about capital and technology sources in the region. P.S. All data - CIA purchasing power parity estimates.