Taiwan’s GDP per capita surpasses both Korea and Japan

[Mista]

Taiwan has surpassed SK and Japan in GDP PPP per capita long ago. It's a combination of both currency fluctuations and higher growth registered in Taiwan which finally made their nominal GDP per capita to surpass as well.

Taiwan's economy has indeed performed well since Covid. They might even surpass HK in GDP PPP per capita in the coming years if they can keep it up.

List of countries by GDP (PPP) per capita - Wikipedia

en.wikipedia.org

 

[huanghong]

Taiwan has surpassed SK and Japan in GDP PPP per capita long ago. It's a combination of both currency fluctuations and higher growth registered in Taiwan which finally made their nominal GDP per capita to surpass as well.

Taiwan's economy has indeed performed well since Covid. They might even surpass HK in GDP PPP per capita in the coming years if they can keep it up.

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List of countries by GDP (PPP) per capita - Wikipedia

en.wikipedia.org

Strangely, while Taiwan's per capita GDP exceeds Japan's, the average wage is only 70% of Japan's. It's hard to understand why.
By contrast, South Korea's per capita GDP is close to Japan's, as is the average wage.
China's per capita GDP is about one-third of Japan's, and the average wage is also about one-third

 

[Mista]

Strangely, while Taiwan's per capita GDP exceeds Japan's, the average wage is only 70% of Japan's. It's hard to understand why.
By contrast, South Korea's per capita GDP is close to Japan's, as is the average wage.
China's per capita GDP is about one-third of Japan's, and the average wage is also about one-third

I'm not sure whether your figures for wages have already accounted for the latest depreciation of the Yen. But assuming your figures are right that Taiwan's wages are only 70% of Japan's, I'm going to say that higher GDP per capita doesn't necessarily mean higher wages.

1) GDP = wages + profits + rents + interest.

In Taiwan, wage share is generally lower than other advanced economies while profit share is higher. Businesses are more profitable in Taiwan.

As seen, Taiwan's wage share is around 45% while SK's is around 55%. Assuming same GDP per capita, SK's wage income per capita would be around 55/45= ~1.22x of Taiwan's.
Japan's wage share is quite similar to SK's: https://ourworldindata.org/grapher/labor-share-of-gdp?tab=table

2) Japan has the highest age-dependency ratio in the world, which means a large part of its population is old and economically inactive.

The share of the population in working age between 15 and 64 in Taiwan is around 71% of the total population.
The share of the population in working age between 15 and 64 in Japan is around 59% of the total population.

Taiwan: working age population share 1960-2060 | Statista

In 2022, the share of the population in working age between 15 and 64 in Taiwan dropped to approximately 70.3 percent of the total population.

www.statista.com

World Bank Open Data

Free and open access to global development data

data.worldbank.org

Taiwan's share of working age population is around 71/59= ~1.2x of Japan's

Taiwan's nominal GDP per capita may have surpassed Japan, but its nominal GDP per worker might still be behind.

 

[MH.Yang]

Strangely, while Taiwan's per capita GDP exceeds Japan's, the average wage is only 70% of Japan's. It's hard to understand why.
By contrast, South Korea's per capita GDP is close to Japan's, as is the average wage.
China's per capita GDP is about one-third of Japan's, and the average wage is also about one-third

I have seen some TV programs about Taiwan's economy. Some politicians in Taiwan (for example 费鸿泰, 曾铭宗) say that Taiwan's GDP figures are actually GNP figures.

In fact, we just need to calculate the ratio of Taiwan's tax revenue to GDP.

 

[Han Patriot]

From that link, production has already started.
In modern times, technology leap frogging is possible.

India was thinking about it too. 1000 years of Confucianism did not teach you anything? Humility, hardwork and foundarion. Before you run, learn to crawl.