According to information officially disclosed by Japan and South Korea, in the first three quarters of 2021, Japan's economy grew by 2% year-on-year, and the nominal GDP revised to US$3684.076 billion. Based on the population of nearly 126 million, Japan's per capita GDP 2 in the first three quarters slightly exceeded US$29,200.
In the first three quarters, the nominal GDP completed by the entire South Korean society was 1515.71 trillion won, an actual increase of 4% year-on-year. The scale of this economy is equivalent to about USD 1340.139 billion. Based on a population of about 52 million, the per capita is close to USD 26,000 - still lower than the per capita level of Japan.
Yes, based on the average exchange rate of the Korean won, Japanese yen and US dollar , over the years, "Japan's per capita GDP is higher than that of South Korea." Among them, Japan's per capita GDP in 2020 was around US$40,000, while South Korea's per capita average was about US$31,500. Even if South Korea catches up again this year, there is still a gap.
If evaluated according to purchasing power, what will be the result?
Although converting GDP in various countries and regions at exchange rates is the most common conversion method in the world, some economists have given many questions. For example: the currency exchange rates of different countries are often interfered with by international capital, and Russian ruble is the representative of it. In the giant index adopted by the "economist", ruble has been used as an example to illustrate that it is undervalued.
There are also some export-oriented economies . In order to promote the large-scale export of domestic goods, artificially suppress the currency exchange rate. In comparison, since the US dollar is very popular internationally and the United States has a strong financial advantage, the " dollar shortage of " often occurs internationally, and the US dollar is therefore overvalued.
will no longer give examples one by one. In short, the exchange rate is subject to many interference factors. Some economists advocate that while using exchange rates to convert the GDP of various countries, also needs to pay attention to the new data of "using purchasing power assessment". thus avoids the impact of fluctuations in exchange rates and makes the actual value of GDP compare on a more stable basis.
According to the evaluation report released by International Monetary Fund (IMF), under the comprehensive evaluation system of "a basket of commodities", South Korea's per capita GDP has actually exceeded Japan - in 2020, South Korea's per capita GDP was US$44,750, and Japan's per capita US$42,210.
Nansheng also found that using purchasing power as the evaluation standard, the per capita GDP of global developed economies exceeded US$52,000 in 2020, and both Japan and South Korea were lower than the average level of developed countries. The United States, Canada, Germany, Australia and other countries are above the average level.
According to purchasing power, the per capita GDP of all developing economies in 2020 was about US$11,550, , of which Russia's per capita GDP was US$28,050, Thailand's per capita exceeded US$18,000, and my country's per capita was approximately US$17,100, both exceeding the average level of developing economies.
is converted by purchasing power. In 2020, Vietnam's per capita GDP was about US$10,900, Philippines per capita, and India's per capita was about US$6,510. Although it is much higher than the value calculated by exchange rate, it is also lower than the average level of developing economies.
purchasing power also has its shortcomings
uses currency purchasing power to convert the GDP of each country to a new extent, which can avoid the impact of exchange rate fluctuations to a certain extent, but it also has its shortcomings. First of all, international trade is becoming more and more frequent, and both importers and exporters are converted according to exchange rates.
Secondly, other added value outside the product is often ignored. The same bottle of Coke costs 3 yuan in supermarkets, but if placed in scenic spots, it may be 10 yuan, and if placed in a hotel, it may be 15 yuan; if you go to a barber shop to spend, the price of luxury stores in downtown areas is much more expensive.
Third, the quality of the product is difficult to directly compare. In most cases, the goods sold within countries vary greatly. Even the goods produced by the same manufacturer will be adjusted according to the different needs of each country. They are not exactly the same - the quality is still not exactly the same, and direct comparison will not be accurate enough.Do netizens agree with this? This article is compiled and written by [Nan Sheng]. Please do not reprint or plagiarize without authorization!
