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Most people say Japan’s economy reached stagnation very recently compared to the past few decades. This is quite an anomaly compared to most other Asian countries experiencing positive rapid economic growth, economically thriving in terms of growth, with no relative decline, and not stagnating.
Singapore $61,803, Hong Kong region of China $51,946, Taiwan $39,400, and Brunei $53,348 became more economically wealthier than Japan $35,178 based on average annual income.
Singapore $61,803, Hong Kong region of China $51,946, Taiwan $39,400, and Brunei $53,348 became more economically wealthier than Japan $35,178 based on average annual income.
Those stats are purchasing power parity, actual annual income of Taiwan is about half of that of Japan, but since Japan is very expensive, the purchasing power is similar. So no, Taiwan is not wealthier than Japan, not even close.
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That list was from 2013. I bet Iran does much better with most sanctions lifted with tons of oil and a well educated population. Botswana is going to be on par with Eastern Europe soon? Wow.
GDP (PPP) also doesn't take in count any government subsidies or other benefits. It simply does take in account the amount of good produced, the tax rate and price level in said country.
No suprise at all, as the price level of most things and tax rates there(SK, Taiwan, Singapore and HK) are much lower than western developed countries. Japan is not in the list as price level in Japan is higher.GDP nominal per capita is better to compare level of income. Japan's GDP nominal per capita is about double of Taiwan, Japanese salary and price level are about 1.75 to 2 times of Taiwan. However, Japan is becoming cheaper compared with other countries as the Yen depreciates and inflation(in Yen) is very low. It may one day come close to Taiwan's level in the future if the trend continues.In the near future, Singapore, Hong Kong and South Korea will have higher GDP nominal and PPP per capita than Japan, Taiwan following below Japan, and China still behind Taiwan. All the Southeast Asian countries will have lower GDP per capita than China except Singapore and Brunei.And only China and the Southeast Asian countries will have middle to high level of economic growth.
Quote:
Originally Posted by Greysholic
Those stats are purchasing power parity, actual annual income of Taiwan is about half of that of Japan, but since Japan is very expensive, the purchasing power is similar. So no, Taiwan is not wealthier than Japan, not even close.
Last edited by Ichibbb; 03-24-2016 at 01:38 AM..
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