South Korea to Surpass Japan's GDP per Person

Although Japan was once the foremost nation in terms of economic growth, the Economist's daily chart suggests that this trend is changing. Countries like South Korea, Singapore, and Taiwan, who used to trail behind Japan in regards to GDP per person, are now quickly outpacing Japan. Even more remarkable, South Korea is expected to achieve a higher GDP per person measured at purchasing-power than Japan within five years. Singapore outpaced Japan in this category in 1993 and Taiwan passed Japan in 2010. However, the case of South Korea will be extraordinary, give that 32 years ago South Korea’s GDP per person was roughly a fourth of Japan’s.