By one measure of living standards, South Korea has overtaken JapanFebruary 2, 2022When japan and South Korea normalised relations in 1965, Park Chung-hee, South Korea’s dictator, got a good deal. The $800m in soft loans and grants he secured from the Japanese government, and the Japanese investment that followed, fuelled an economic engine that would go on to yield annual gdp growth of more than 7%, on average, for the next five decades. Richard Katz, an economist at the Carnegie Council for Ethics in International Affairs, has found, based on data from the World Bank, that South Korea’s gdp per person measured at purchasing power parity (ppp) exchange rates surpassed Japan’s in 2018.https://asianpolyglotview.com/2022/02/by-one-measure-of-living-standards-south-korea-has-overtaken-japan.htmlhttps://www.economist.com/graphic-detail/2022/02/01/by-one-measure-of-living-standards-south-korea-has-overtaken-japan
