Watch out Spain, here come Korea!
Quote:
For the first time, Korea has entered the ranks of the world's top 10 largest economies. In 2005, Korea ranked 10th among the world's largest economies with a gross domestic product (GDP) of more than US$790 billion. In 2004, the Korean economy was the world's eleventh-largest. The Finance Ministry attributed the latest rise largely to the strengthening of the Korean won, which appreciated its assets in U.S. dollars.
GDP is a measure of all of products and services produced by a country. The United States ranked first in terms of GDP with more than $12 trillion followed by Japan and Germany. China came fourth. Spain was the world's ninth-largest economy and Brazil came eleventh.
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It looks like the leap from 11th to 10th place came because of the strngth of the Won and not due to economic growth.
Reading this report has made me think. Notice that Japan and Germany are ranked #2 and #3 and now Korea is ranked number 10. It seems that when the U.S. "nation builds" we do a pretty good job of it. All I hear is bad news from Iraq, but I will bet you a month’s wage that Iraq will be the #1 economy in the Middle East in 20 years. 
04-27-2006, 11:10 PM
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