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.
About TeachingwithData.org
TeachingWithData.org is a partnership between the Inter-university Consortium for Political and Social Research (ICPSR) and the Social Science Data Analysis Network (SSDAN), both at the University of Michigan. The project is funded by NSF Award 0840642, George Alter (ICPSR), PI and William Frey (SSDAN), co-PI.
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