• PugJesus@lemmy.world
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    3 months ago

    During the past half-century, the Republic of Korea’s economy has shown impressive growth, with average annual GDP growth rate surpassing 7.1%, raising the level of real per capita GDP in international prices almost 26 times (Table 1). Average GDP growth rates accelerated to 7.5% in the 1960s, 8.6% in the 1970s, and 9.3% in the 1980s

    https://www.adb.org/sites/default/files/publication/183353/adbi-wp571.pdf

    Still no response for North Korea’s fantastic workers’ rights and democratic institutions, huh?

    • volodya_ilich
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      3 months ago

      From your own source:

      The Republic of Korea has had a remarkable economic performance since the early 1960s, achieving per capita income of $27,000 to become the world’s eighth-largest trading nation.1 However, the economy’s recent growth performance has been rather disappointing. Gross domestic product (GDP) growth averaged only 4.1% during 2000–2010, marking a significant drop from the average of 7.9% achieved during 1960–2000. Moreover, from 2011 to 2015, the Republic of Korea’s GDP growth averaged only 3.0%

      So you’re choosing to cherrypick a few decades of comparably similar growth (2 points percentage difference), growth was relatively stable since the 60s as I said.