The fact still remains South Korea is becoming a dominant market world player and overtaking Australia economically because of their nuclear energy regime and initiatives and stance on nuclear power...South Korea???...FFS!!!13. Australia
- Nominal GDP in Current U.S.: $1.79 trillion17
- PPP Adjusted GDP in Current International Dollars: $1.79 trillion5
- GDP Growth: 1.5%6
- Nominal GDP Per Capita in Current U.S. Dollars: $66,59013
Australia is the 13th-largest economy in the world.
Australia combines a relatively open domestic economy with an extensive network of free trade agreements with trading partners all around the Asia-Pacific Rim. This works to the advantage of Australia’s abundant natural resources and agricultural export industries; however, it has also left Australia vulnerable to swings in world commodity demand and prices in energy (coal and natural gas), metals (iron ore and gold), and agricultural products (beef and sheep products).41
14. South Korea
- Nominal GDP in Current U.S. Dollars: $1.76 trillion17
- PPP Adjusted GDP in Current International Dollars: $3.06 trillion5
- GDP Growth: 2.3%6
- Nominal GDP Per Capita in Current U.S. Dollars: $34,16013
South Korea is the 14th-largest economy in the world by GDP.
South Korea’s economy is a 20th-century success story that is today firmly established as an advanced, industrial economy. Known for its strategy of export-led growth and the dominance of its chaebols—a term for large business conglomerates—South Korea in recent decades has built a network of free trade agreements covering 58 countries that account for more than three-quarters of the world’s GDP. It is a major producer and exporter of electronics, telecommunications equipment, and motor vehicles.4243
With this progress, however, South Korea also now faces some of the same challenges that many other advanced economies are dealing with, including slower growth and an aging workforce.43
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The fact still remains South Korea is becoming a dominant market...
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