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In that graph their GDP per capita is growing on par with the U.S. The US added 35 million people in that time frame and started from a higher base where you wo
by trynumber9 8y ago
In that graph their GDP per capita is growing on par with the U.S. The US added 35 million people in that time frame and started from a higher base where you would expect growth to be more difficult. That meets my criteria of a relative decline, especially considering the Japan of the early 90s.
- pishpash 8y agoThe point still stands that there was growth per capita. Given that, different economies have different growth rates just like different companies do. The US has many advantages to attract growth that other countries do not have. Consider just the fact that the growth since the 80's has been dominated by the financial sector, the reserve currency status certainly helps. Other large sectors like agriculture and natural resources/energy, Japan has no answer for.
- mrb 8y ago«started from a higher base where you would expect growth to be more difficult» This is an incorrect intuition. Compare to a few other similar (ie. developed) countries of different sizes like Germany, Canada, South Korea, the growth per capita is roughly the same: https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2017&locations=JP-US-CA-KR-DE&start=2003 https://data.worldbank.org/indicator/NY.GDP.PCAP.PP.CD?end=2... «GDP per capita is growing on par with the U.S» That's exactly my point. Japan is not "declining".