By Asian Productivity Organization
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Additional info for APO Productivity Databook 2011
Japan started its catching up much earlier 15: These extreme figures have been omitted from Figure 7. 23 3 Development of Asian Economy Table 5: Country Groups Based on the Initial Economic Level and the Pace of Catching Up with the US Because of its potential policy significance, the “Asian miracle” —Level and average annual growth rate of GDP at constant market prices, using 2005 has generated vigorous research PPPs to establish the underlying factors in this sustained economic sucAnnual Rate to Catch-up to the US cess.
Asia’s averages have stayed above the 20 per cent mark for the whole period, despite their ups and downs. Investment share was 10 per cent and 16 per cent higher than the US’s in APO20 and Asia23 respectively in 2008. 1). In contrast, investment share in China and India has been rising. India in particular has been investing very aggressively since 2000, coming within 10 per cent of China’s 45 per cent share from a much lower base at the beginning of the period. 2). South Asia and East Asia’s investment share has converged to around 35 per cent, with the former reflecting India’s recent effort.
4 per % 125 1995 Qatar Brunei Singapore Kuwait Oman China GCC Iran Saudi Arabia UAE Malaysia Korea East Asia Bahrain Asia29 Asia23 Thailand Japan ASEAN Indonesia APO20 ROC EU15 Mongolia Fiji India Hong Kong South Asia US Sri Lanka Pakistan Vietnam Philippines Myanmar Nepal Bangladesh Cambodia Brunei Qatar Saudi Arabia Kuwait GCC Bahrain Oman China Singapore East Asia Malaysia UAE Mongolia Asia29 Iran Asia23 Korea Thailand Japan EU15 APO20 India ROC ASEAN Hong Kong South Asia Indonesia Vietnam US Sri Lanka Pakistan Philippines Cambodia Bangladesh Myanmar Nepal Fiji 25: For example, between the summers of 2006 and 2008, the prices Americans paid for imports from China rose by 6 per cent.