As everyone knows, China is predicted to be taking over America very soon. China is experiencing double digit economic growth which is believed will surpass America’s GDP. China is expanding their military and will be a superpower country. These are what everyone knows. On the other side, do you think South Korea will just like be China, surpassing Japan?
1) South Korea’s economy growth is not bad. They are climbing up the chart and listed as one of the four Asian Tigers.
2) Samsung has beaten Japanese companies for sales and become world’s largest electronic company.
3) It is said that Japanese electronic companies can no longer keep up with Samsung.
4) Japan is very popular with anime, manga and J-Pop but South Korea’s K-Pop is very popular too.
5) Koreans are better than Japanese in studies
6) South Korea is doing better than Japan in Olympic. And more…
With all points above, do you think South Korea will surpass Japan just like how people are hyping about China is surpassing America?
Yes and No
The country is better off before with chopping down all the tree because economy activities is generated, people got income, got purchasing power at that time. But it is not sustainable.
Country has high balance sheet has little use. A country may have trillion of dollar “balance sheet”, but its people are not getting good income vs a developed nation people (even though the country is in high deficit), in term of purchasing power. If those balance sheet cannot be translated into people wealth, your domestic economy is not strong to start with.
Country is about people prosperity. Country or government doesn’t need to have plenty of money, but a well prosperity economy and specifically to its people is more important. Yes, country and gov has surplus is good to start with. But this is not the priority or objective of a country or gov.
Yes, balance sheet is important as health of economy, but GDP is equally important. Profit/income cannot exceed your revenue. If you have 1 million revenue, you cannot possibly have 1 million profit. If the country is have 1 million revenue, you have 1 million people, the most the people can earn 1.
GDP gives us idea of size of business/economy, if your GDP is small to start with, while you have plenty of people, it is not possible your people will have good income across.
I’m afraid South Korea won’t be able to surpass Japan any time soon. Though that doesn’t mean South Korea don’t stand a chance.
Japan is not part of the “Asian Four Tigers” that’s because Japan is standing higher than that.
Despite the radiation case, there’s still huge amount of people purchasing Japanese products or services. People confidence upon Japanese product can no longer be measured. Taking Hyundai, Honda, Toyota as example, majority of people who would want to purchase a car and prefer to be on the safe side, will choose Japanese car.
In my opinion regarding the electronic brands such as Samsung which surpasses Japanese sales volume is due to Japanese electronic brand such as Sony is WAY MUCH more over-priced compare to Samsung. Sony oftenly viewed as “high-end” products. If you ask any rich guys, what would they prefer to use, I’m sure majority of them choose Sony over Samsung.
Japan Population
- 2011 estimate 127,960,000[5] (10th)
- 2004 census 127,333,002
- Density 337.1/km2 (36th) 873.1/sq mi
GDP (PPP) 2010 estimate
- Total $4.308 trillion[6] (3rd)
- Per capita $33,828[6] (24th)
GDP (nominal) 2010 estimate
- Total $5.390 trillion[6] (3rd)
- Per capita $42,325[6] (17th)
South Korea Population
- 2010 estimate 48,875,000[1] (24th)
- Density 491/km2 (21st) 1,271/sq mi
GDP (PPP) 2010 estimate
- Total $1,457.063 billion[2] (12th)
- Per capita $29,791[2] (26th)
GDP (nominal) 2010 estimate
- Total $986.256 billion[2] (14th)
- Per capita $20,165[2] (34th)
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