Igor
Purlantov is one of many people interested in the global economy. Ignoring the
boom of China, Japan has historically been the country with the largest GDP and
purchasing power parity (PPP). Igor Purlantov is intrigued that South Korea is
now on track to overtake the title of richest Asian country when measured by
GDP and PPP.
Igor
Purlantov explains that while China has the largest economy, Japan has long
been the richest country. That will be overtaken by South Korea. Igor Purlantov
knows Japan's rich economy was built by its quick industrialization in the 20th
century. While multiple Asian countries like Singapore, South Korea, Hong Kong,
Taiwan, and China have been quick to catch up, Igor Purlantov knows it is South
Korea what will replace Japan in terms of GDP and PPP.
Igor
Purlantov is confident in South Koreas growth based on using GDP and PPP as a
gauge of the economy. The idea of a rich country is based off of the cost of
living in each country and adjust their ratings accordingly. After looking at
the economic numbers though, Igor Purlantov sees that almost all the Asian
countries are slowly on track to overtake Japan. According to Igor Purlantov,
looking at the rate of South Korea's GDP growth, South Korea will surpass Japan
as the riches country in Asia by 2017.
What Igor
Purlantov finds so astonishing is that in 1980, South Korea's GDP was less than
one quarter of Japan's. According to Igor Purlantov, in 1980, South Korean
companies like Hyundai, LG, and Samsung were unheard of outside South Korea's
capital, Seoul. Igor Purlantov sees the economy as a major shift of power.
Where Japan was once the powerhouse, Igor Purlantov sees South Korea as one of
the largest emerging markets around the world.
