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Size of the East Asian Economy

TheTruth

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China 10,355,350
Japan 4.770 trillion
South Korea 1.449 trillion
Taiwan 505.452 billion
Hong Kong 292.677
Macau 51.75
Mongolia 26.8 billion
North Korea 15.4 billion

Right now the combined GDP of East Asia is $17463 trillion, $17,416 trillion in the US and $18.399 trillion in the EU.

Open discussion. Is this a milestone? Will East Asia overtake both competitor regions combined? How's progress looking on the scientific, technological, military, financial, diplomatic front? What kind of things are GDP overlooking? :)
 
China 10,355,350
Japan 4.770 trillion
South Korea 1.449 trillion
Taiwan 505.452 billion
Hong Kong 292.677
Macau 51.75
Mongolia 26.8 billion
North Korea 15.4 billion

Right now the combined GDP of East Asia is $17463 trillion, $17,416 trillion in the US and $18.399 trillion in the EU.

Open discussion. Is this a milestone? Will East Asia overtake both competitor regions combined? How's progress looking on the scientific, technological, military, financial, diplomatic front? What kind of things are GDP overlooking? :)

Yes - East Asia should be around as large as both the US and EU by 2030.

China - still has a long time to grow much faster than US and EU and remember the currency will appreciate as it's living standards close with US/EU

Korea - should expect fast growth rates for 10-15 more years and currency will appreciate somewhat.

Taiwan - should expect fast growth rates for 10-15 more years and currency will appreciate somewhat.
 
For me it's disappointing to see what are essentially petty conflicts consuming all the political energy in the region. The Western world order is fundamentally rigged and East Asians should be more skeptical of it. It would make sense for these nations to come together and work for their mutual interests and that of the world at large, instead of continuing to let Westerners take advantage.
 
For me it's disappointing to see what are essentially petty conflicts consuming all the political energy in the region. The Western world order is fundamentally rigged and East Asians should be more skeptical of it. It would make sense for these nations to come together and work for their mutual interests and that of the world at large, instead of continuing to let Westerners take advantage.

True, but have you seen the Japanese opinion polls of China? They were the only one in the poll with a negative view of China, everyone else had a majority positive view (50%+).

China's global image on the upswing

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They are so paranoid that one day we will want revenge for the war crimes in WW2.

Doesn't matter if we have no plans to do that, they will always believe that we will want revenge.

If someone killed a person's entire family, and left 1 guy alive, he will never stop fearing that the guy will take revenge on him one day. Nothing we can do will convince them otherwise.
 
China 10,355,350
Japan 4.770 trillion
South Korea 1.449 trillion
Taiwan 505.452 billion
Hong Kong 292.677
Macau 51.75
Mongolia 26.8 billion
North Korea 15.4 billion

Right now the combined GDP of East Asia is $17463 trillion, $17,416 trillion in the US and $18.399 trillion in the EU.

Open discussion. Is this a milestone? Will East Asia overtake both competitor regions combined? How's progress looking on the scientific, technological, military, financial, diplomatic front? What kind of things are GDP overlooking? :)
East Asia should overtake the EU.

The Euro fell about 25% last year against the US dollar. It's projected to fall another 5% this year. The reasons are obvious.

1. Sanctions war with Russia. EU exports and imports are being hammered.
2. Greece is a mess.
3. The EU Central Bank is printing massive amounts of Euros for the European Stimuls/Quantitative Easing.

The IMF April 2015 WEO (ie. World Economic Outlook) will be out soon. We'll have a clearer picture in a few weeks.
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Off-topic: Keep an eye on the nominal GDPs for Russia, Saudi Arabia, and other big oil producers. Their GDPs should fall dramatically due to the drop in oil price by half (which affects their currency value).
 
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It doesnt mean a lot of things as long as the area is not in one voice so there is zero bargaining chip against other economic entities in collective trade negotiations

images

Handcrafted purple clay teapot
 
China's revised nominal GDP for 2015 should be about $13.3 trillion

China is updating its GDP methodology to a more recent version. It affects the way services is counted and other issues. The net effect is a Chinese nominal GDP of around $13.3 trillion for 2015. The revision is supposed to happen sometime this year.

Reference: Next Big Future: China will pass Europe in nominal GDP this year
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China is moving to the SNA (ie. System of National Accounts) 2008 accounting standard.

Reference: China Economic Watch | China’s New GDP Measurement: Impact on Growth, Income, and Productivity
 
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China's revised nominal GDP for 2015 should be about $13.3 trillion

China is updating its GDP methodology to a more recent version. It affects the way services is counted and other issues. The net effect is a Chinese nominal GDP of around $13.3 trillion for 2015. The revision is supposed to happen sometime this year.

Reference: Next Big Future: China will pass Europe in nominal GDP this year
----------

China is moving to the SNA (ie. System of National Accounts) 2008 accounting standard.

Reference: China Economic Watch | China’s New GDP Measurement: Impact on Growth, Income, and Productivity
Sounds like we're modelling after what India has done......
 

Not a pretty picture, I guess. It reflects the need to work on both intergovernmental and inter-social levels to improve perceptions. I guess it is pretty much a trickle-down economy: Optimism at the top levels finds its way to the bottom over time. Consistency and abstaining from dramatic jolts along the way is important.

For me it's disappointing to see what are essentially petty conflicts consuming all the political energy in the region. The Western world order is fundamentally rigged and East Asians should be more skeptical of it. It would make sense for these nations to come together and work for their mutual interests and that of the world at large, instead of continuing to let Westerners take advantage.

Why is the US constantly sowing dissent in the South China Sea?
March 26, 2015

Commander of the US Seventh Fleet Robert Thomas recently suggested that ASEAN countries should jointly establish a maritime power to patrol the South China Sea, and promised that the Seventh Fleet would provide support. In February he invited Japanese air patrols to expand to the South China Sea and encouraged Japan to assist the Philippines and other countries in equipment, training and preparation for combat.

Any reasonable observer would ask what he and the United States are trying to achieve.

First, the United States is building a momentum to counterbalance China. Robert has publicly claimed that the nine-dashed line does not comply with international law. He stresses that China's navy and coastguard are more powerful than its neighbors, and the scale of the Chinese fleet continues to grow. He is worried that China will damage regional,national and US interests in the South China Sea. These claims suggest that China is to blame for the South China Sea issue. They disregard China's efforts to support peace and stability in the region and interfere with China's legitimate actions in defense of its legitimate interests.

American action to undermine China has a long history. The US State Department has said the United States will continue to monitor China's military patrol off Zengmu reef or James Shoal. Last month, the US Navy admitted for the first time that it had sent the advanced"Poseidon" surveillance aircraft to patrol in the South China Sea. By constantly exaggerating the China threat, the United States hopes to normalize its patrols in the South China Sea, to further strengthen its cooperation with regional allies and partners, and to enhance its ability to respond to China in the air and at sea.

Second, the United States is testing the waters for its goals. References to supporting Japanese air patrols and encouraging ASEAN to "hold together" have been allowed to leak in to the public domain. Such views are not to be found in US diplomatic documents and statements. This means that these joint patrols have not yet become an established policy of the United States. But the US is releasing a signal that it will expand its interference in the South China Sea issue.

Third, in the basic spirit of general stability, China and the ASEAN countries have to find a route to compromise in dealing with the issues, that is, to resolve disputes through negotiations involving the parties involved, and to maintain peace and stability in the region through joint actions of China and the ASEAN countries.

Countries outside the region should respect the efforts of China and ASEAN and play a constructive role. But the United States has chosen to do the opposite, thereby creating tension and undermining stability.

External interests should respect the efforts of China and ASEAN to work constructively.Ill-informed interference will achieve nothing.

The author is Su Xiaohui, deputy director of the Department for International and Strategic Studies at China Institute of International Studies.

This article was edited and translated from 《有的国家唯恐南海不乱》, source: People's Daily Overseas Edition
 
The United States has follow the model of creating chaos and profiting from it. China hasn't fallen for their traps, yet.

East Asia needs a united front, of course. Long term, our enemies are not one another. History may be a sore point but there are still people who would love to kill us in the future.
 

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