Ok I just checked, so Korea’s GDP PPP per capita is still substantially higher. What this headline is talking about is nominal GDP per capita. We also know that Korea keeps its currency undervalued through use of buying overseas currency and assets through its pension funds and other mechanisms in order to boost exports, so this really is a story about exchange rate shenanigans more than anything else.
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Makin’ and spendin’ Euros, baby!
Ok I just checked, so Korea’s GDP PPP per capita is still substantially higher. What this headline is talking about is nominal GDP per capita. We also know that Korea keeps its currency undervalued through use of buying overseas currency and assets through its pension funds and other mechanisms in order to boost exports, so this really is a story about exchange rate shenanigans more than anything else.