Economic History of Japan - 20th Century

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

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