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came across what i think is quite interesting today , the progress of various countries in terms of GDP since 1990 , whats quite remarkable to me is just how close japan was to the usa in 1990 and how far apart the two countries are today , japan has barely grown , also of note is how relatively weak the uk was economically back then , it was behind italy by a significant distance , today its miles ahead by any objective measure
The U.S. has changed a lot since 1990, and so has Japan... a lot of factors are involved, but I'm struck by a couple of things: how much the U.S. population has grown, thanks to immigrants from Mexico/Latin America and elsewhere; how much the birth rate has dropped in Japan and how quickly its population is aging. I don't know enough about world trade or finance to know how much weight those circumstances deserve... but from a social point of view, the countries have changed enormously over the past 20 to 30 years.
The U.S. has changed a lot since 1990, and so has Japan... a lot of factors are involved, but I'm struck by a couple of things: how much the U.S. population has grown, thanks to immigrants from Mexico/Latin America and elsewhere; how much the birth rate has dropped in Japan and how quickly its population is aging. I don't know enough about world trade or finance to know how much weight those circumstances deserve... but from a social point of view, the countries have changed enormously over the past 20 to 30 years.
japan had the biggest asset bubble in history during the eighties and it burst around 1990 or thereabouts so this might explain its disproportionately high GDP at the time , its stock market today is still only a third of what it was in 1990 , to think it was nearly 60% of the u.s economy in 1990 is staggering
japans growth from 1965 to 1990 was truly phenomenal
in 1965 , irelands economy was only half as big as that of new zealand ( which is a country we often compare ourselves to as both are highly agricultural traditionally ) and south korea was only 60% as large as new zealand , today irelands is nearly 33% larger than that of new zealand and the economy of south korea is eight times larger than new zealand today
The U.S. has changed a lot since 1990, and so has Japan... a lot of factors are involved, but I'm struck by a couple of things: how much the U.S. population has grown, thanks to immigrants from Mexico/Latin America and elsewhere; how much the birth rate has dropped in Japan and how quickly its population is aging. I don't know enough about world trade or finance to know how much weight those circumstances deserve... but from a social point of view, the countries have changed enormously over the past 20 to 30 years.
japans growth from 1965 to 1990 was truly phenomenal
in 1965 , irelands economy was only half as big as that of new zealand ( which is a country we often compare ourselves to as both are highly agricultural traditionally ) and south korea was only 60% as large as new zealand , today irelands is nearly 33% larger than that of new zealand and the economy of south korea is eight times larger than new zealand today
Ireland has embraced high tech into its economy, and has largely integrated with mainstream European business, finance, etc., which has all been to the good for Ireland. Ireland even shows signs of recovering reasonably well from the economic crisis of 2008/09, which couldn't have looked more bleak for the country a few years ago. New Zealand, as far as my impression goes, it has remained very much dependent upon agriculture. Not that agriculture isn't going well for New Zealand--on the contrary, it seems to keep mushrooming internationally. I'm more familiar with NZ products now than I would've been 15 years ago. It just goes to show, though, that economic diversification isn't just a fancy buzzword... it's benefited Ireland greatly in the past two decades.
Ireland has embraced high tech into its economy, and has largely integrated with mainstream European business, finance, etc., which has all been to the good for Ireland. Ireland even shows signs of recovering reasonably well from the economic crisis of 2008/09, which couldn't have looked more bleak for the country a few years ago. New Zealand, as far as my impression goes, it has remained very much dependent upon agriculture. Not that agriculture isn't going well for New Zealand--on the contrary, it seems to keep mushrooming internationally. I'm more familiar with NZ products now than I would've been 15 years ago. It just goes to show, though, that economic diversification isn't just a fancy buzzword... it's benefited Ireland greatly in the past two decades.
considering how remote new zealand is , the country does pretty ok , i lived and worked there for a while , its a great country in many ways , ireland was very poor in 1965 by european standards so its perhaps not surprising it was so far behind a similar sized country like new zealand and also no surprise that its a good distance ahead today due to its geographical location
the progress south korea has made since 1965 leaves ireland in the happeny place however , it has a 1.3 billion dollar economy today , its economy was only slightly larger than irelands in 1965 , i know the korean war was only over a decade or so but even allowing for that , its quite amazing , up there with the rise of china in my view
japans growth from 1965 to 1990 was truly phenomenal
in 1965 , irelands economy was only half as big as that of new zealand ( which is a country we often compare ourselves to as both are highly agricultural traditionally ) and south korea was only 60% as large as new zealand , today irelands is nearly 33% larger than that of new zealand and the economy of south korea is eight times larger than new zealand today
Argentina was penalized by the disastrous military juntas at the end of the 70s and in the first half of 80s which put the country back. It also had its golden age between the 50s and the 60s when it was under Peron's rule but then the situation degenerated.
Quote:
Originally Posted by irish_bob
came across what i think is quite interesting today , the progress of various countries in terms of GDP since 1990 , whats quite remarkable to me is just how close japan was to the usa in 1990 and how far apart the two countries are today , japan has barely grown , also of note is how relatively weak the uk was economically back then , it was behind italy by a significant distance , today its miles ahead by any objective measure
Italian economy shined throughout the 80s but then it slowed starting from the early 90s. The politicians of the 80s had just wasted the benefits their predecessors and the Italian citizens had reaped in the previous decades through excessive welfare (most of it wasn't needed and has been cut in the last decade) instead of investing in infrastructure, tourism, modernizing the country.
another interesting comparison is australia and canada , in 1990 , canadas economy was nearly twice that of australia , today canada is barely 25% larger , australia has seen incredible economic growth in the past quarter century , obviously tied to the rise of china but perhaps canada did not gain as much from the growth of the u.s economy as it might
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