20th Century
In the mid 1930s, the Japanese nominal wage rates were 10 times less than the one of the U.S (based on mid-1930s exchange rates), while the price level is estimated to have been about 44% the one of the U.S.
Comparison of GDP per capita between East-Asian Nations and the U.S. in 1935:
| Country | GDP/capita, 1935$ (Liu-Ta-Chung ) | GDP-PPP/capita, 1990$ (Fukao ) | GDP-PPP/capita, 1990$ (Maddison ) |
|---|---|---|---|
| U.S. | 540 | 5,590 | 5,590 |
| Japan (excl. Taiwan and Korea) | 64 | 1,745 | 2,154 |
| Taiwan | 42 | 1,266 | 1,212 |
| Korea | 24 | 662 | 1,225 |
| China | 18 | 543 | 562 |
Read more about this topic: Economic History Of Japan
Famous quotes containing the word century:
“The fact that women in the home have shut themselves away from the thought and life of the world has done much to retard progress. We fill the world with the children of 20th century A.D. fathers and 20th century B.C. mothers.”
—Charlotte Perkins Gilman (1860–1935)
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