La Spagna supera il Giappone nel PIL pro capite in uno storico sorpasso che scopre un cambiamento molto più grande nell’economia globale
https://www.eleconomista.es/economia/noticias/13443833/07/25/espana-adelanta-a-japon-en-pib-en-capita-en-un-historico-sorpasso-que-destapa-un-cambio-mucho-mayor-en-la-economia-global.html
di Competitive_Waltz704
25 commenti
>The country of bars and beach bars has overtaken the economy of technology and robots. This, which might seem a real fantasy, is a true reality if you look at the GDP per capita data published by the International Monetary Fund (IMF) in each revision of its forecasts. Beyond the humorous and anecdotal nature of the comparison, the truth is that it **uncovers or reveals a much larger change in the global economy**.
>The growing preference of consumers in much of the world for services is generating this type of situation in which economies that are highly intensive in capital, technology and investment (Japan, South Korea and Germany) seem to be languishing, compared to countries where services (which were once branded as a major drag on the economy) account for a larger share of GDP. Thus, what seemed impossible in 2012 has become possible in 2024.
Reminder : Slovenia is still lower and has stuck in a middle income trap along with most of the eastern EU branch. I say this because people here were circlejerking on a 2 million country having a higher income than Spain the last ten years or something. Also, Cyprus surpassed the EU average this year and the uk in ppp holding and expanding the distance with the eastern branch.
Aww. Congrats !!!!
And they are led by a Socialist?! How is this possible?!!?
/s
WOW…..
Owari da!
Spain sold their manufacturing sector to China.
They import most products from China.
They sacrifice Blue collar jobs for High GDP.
This is more Japan’s downfall than Spain’s success.
Sure. Almost all tech companies in Germany hiring in Spain and Portugal. Reason? Money. They costs almost half as much as a german, highly skilled worker or even folks from India.
Spain has more high speed rail than most other countries in Europe. They are the most efficient for cost and speed in building high speed rail in the developed world. They’ve built a ridiculous amount of new motorway / highway in the previous decades. Far more than the UK for reference.
Their urban redesign projects have won international awards (Madrid Rio, Barcelona Olympic village). AFAIK San Sebastian and Valenceia are undergoing major projects for urban development that are considered quite innovative.
They are making big moves in the renewables sector and they’ve totally embraced mass migration from South America which has allowed their labour market to constantly get filled with cheap labour.
Whatever people’s criticisms of immigration it’s great for the economy. It doesn’t do too much harm that they are taking from countries that are very culturally similar and the integration cost is super low. Most of South America’s educational standard’s are basically the same as Europe/ US. But they dont get recognized / accredited for whatever reason.
Along with this they’ve a huge amount of tourism. Its pretty much always going to be one of the best in Europe to go to with their high quality infrastructure and wealth of beaches.
Glad to see Spain is going up
A left wing party in power makes your economy better. Who would have thought. /s
This wouldn’t have anything to do with the weak yen would it?
It’s true that the “big numbers” are going well for Spain.
But for most people, things are getting worse and worse.
The housing is completely out of hand. Most people bellow 32-35 need to live with their parents or live in a tiny room in a shared flat because of the prices.
The grocery prices have gone up a lot in recent years.
Healthcare service was once very good a few years ago, but now you have huge waiting times and there’s very few doctors and personnel.
And of course, salaries are terrible, even when the rest of the costs have gone up a lot.
I see very little hope in the future.
Japan has thrown decades of potential economic growth away. Just tragic man how they messed up with immense consequences for their own population
moral of the story:
Don’t be Japan.
Well, it’s not surprising given Yen’s decline.
Japanese GDP per capita PPP is bigger. Meaning Japs can afford more goods and services despite making similar amount of cash. Also Yen has lost like 30% of its value since covid hence making them look weak despite economy being slightly bigger than then
How does this translate in GDP PPP though?
Spain is still lower than all of Western Europe except Portugal in GDP PPP last time I checked.
Yet, I’m a scientist working in a prominent university in Barcelona, and my salary is total garbage. (About 35k per year, work a Ramon y Cajal Grant).
And I just received an offer from the University of Tokyo for a 5 years position at 12 millions yens.
So really, those indicators don’t mean much for everyday people.
Japan has “low” gdp per capita for high tech super star. Slovenia is literally in the same ballpark (not PPP but nominal) https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=SI-JP-ES , I always wondered what the reason is. This is gross oversimplification but out of the brands I trust most are Japanese and our only rock star brand is Elan (I know, difersified smb economy, but still…).
Oh man I can’t wait for when that sweet GDP money comes to the working people and we can afford a home! /s
…and yet, young people in Spain can’t make a living. I wonder where that money is? Hmmm /s
Vamos hermanos!!!
The big picture is not that Spain is doing so well but rather that Japan has been stagnating for so long. Japan was not overtaken just by Spain but also by Slovenia in nominal GDP and also by Czechia, Lithuania and Poland in GDP PPP. These countries are all high tech industrial economies, where industry represents one of the highest % of GDP. (Slovenia even has higher robot density than Denmark, Austria or Netherlands)