Which Asian country’s economy has improved the most since the 1960s?
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TEXT OF INTERVIEW
Steve Chiotakis: We’ve been focusing the past few days on China’s president’s visit to the U.S. And today, as part of the Marketplace Globalist Quiz, we look at how an uptick in income in Asia over the years tells a bigger story.
Stephan Richter is publisher and editor-in-chief of
TheGlobalist.com and he’s with us now. Good morning Stephan.
Stephan Richter: Good morning, Steve, how are you? Ready for today’s quiz?
CHIOTAKIS: I am ready, I am ready. Let’s do it.
RICHTER: Which Asian country’s economic lot has improved the most since the 1960s? And measured by income per person? Is it A) Japan, B) Singapore, C) South Korea, or — the eternal favorite for everything these days — D) China?
CHIOTAKIS: So it’s the 1960s, huh?
RICHTER: Uh huh.
CHIOTAKIS: I’m going to guess China.
RICHTER: For once, China is not the top performer in global economic statistics these days. You know, they made $100 a year in current dollars of 1965. So see how far they’ve gone, they almost make around $3,000 these days, at least as of 2008. And of course that’s increasing a lot — that’s 2,800 percent more, but you struck out.
CHIOTAKIS: OK, then let’s try Japan.
RICHTER: Japan — is number four among these options. But they’ve come a long way: they’ve made $890 per year back in ’65, and now it’s over $38,200. That’s a 4,200 percent increase.
CHIOTAKIS: I’d like that raise. I’m not getting any raises though with the way I’m dealing with this question right here, Stephan. All right, let’s try South Korea?
Ding Ding Ding Ding Ding
RICHTER: You are a genius! Bingo! 16,500 percent increase. So the South Koreans have reason to feel good about themselves. Back in ’65, they made $130 a year. Now it’s over $22,000 a year. That’s pretty cool.
CHIOTAKIS: Stephan Richter, the editor-in-chief over at the Globalist. Find out more about the world at theglobalist.com. Stephan, thanks.
RICHTER: All the best, bye bye.
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