How long would it take and at what rate of growth, for china's economy to catch up to Japan's? To reach the present Japanese per capital income? what obstacles do you see to such growth?© BrainMass Inc. brainmass.com July 20, 2018, 8:29 pm ad1c9bdddf
Overview of Japan's Economy -
Japan's economic growth between 1960 and 1980 has been called a miracle, and is now the second largest economy in the world, only 2nd to the United States. In terms of GDP, it has about $5 trillion, and is third after the US and China in purchasing power. Major industries are banking, insurance, retail, transportation technology, telecommunication,, and retailing. It has a large industrial capacity, and is able to produce some of the most technologically advanced products. Despite some slowing due to the international recession, Japan's economy continues to grow faster than the growth rates of the United States and the European Union. Japan's per capita income approaches $40,000.
Overview of China's Economy -
China is a gigantic nation with an unprecedented fastest growing major nation for the past 25 years, and an average annual GDP growth above 10%. While China's per capital income is classified in the lower middle category, at about $3,2000, it is the third largest economy in the world after the US and Japan with a nominal DFP of $4.3 trillion. China now participates in the private sector, and her companies play a major role in the global economy. China's ...
The solution explores the factors & obstacles that can contribute towards Chinese growth to catch up with its economic giant neighbor, Japan.