Introduction: China and Japan in the global economy

Tomoo Kikuchi, Masaya Sakuragawa

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

The global economic centre of gravity is shifting from the West to the East. Today, Asia is the home to about 60 per cent of the world’s population and produces nearly 40 per cent of the world’s Gross Domestic Product (GDP). Asia is growing rapidly and in the absence of a major distraction is likely to produce more than a half of global GDP by 2050. The dramatic transition in the global economy over the past few decades has resulted in a remarkable shift within the Asian continent as well. For example, in 1995, Japan’s GDP was more than twice that of China, India, and ASEAN combined. Over the last 20 years, China’s GDP has grown more than tenfold, India’s more than fivefold, and ASEAN’s nearly fourfold. Today, China’s GDP alone is more than twice Japan’s GDP. Meanwhile, Japan’s GDP per capita is still four times that of China. While Japan’s status is weakening and China’s strengthening, there is increasing uncertainty over leadership in Asia which prompts major concerns over regional economic integration and development.

Original languageEnglish
Title of host publicationChina and Japan in the Global Economy
PublisherTaylor and Francis
Pages1-3
Number of pages3
ISBN (Electronic)9781351618052
ISBN (Print)9781138086166
DOIs
Publication statusPublished - 2018 Jan 1

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)

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    Kikuchi, T., & Sakuragawa, M. (2018). Introduction: China and Japan in the global economy. In China and Japan in the Global Economy (pp. 1-3). Taylor and Francis. https://doi.org/10.4324/9781315111100