In addition to the productivity account in each economy, the regional growth accounts are developed in the APO-PDB 2023 for eight economy groups: the ASE- AN6, the APO21, Asia25, CLMV, East Asia, the IPEC, the RCEP, and South Asia.2 In developing the regional productivity accounts, consideration is given to the price differentials among economies on capi- tal and labor inputs and outputs by follow. [...] The trends in the Italy UK seven countries are roughly similar; en- US ergy prices peak in mid-2022 in the 1.6 US and Korea and around the end of 2022 in the remainder. [...] According to our projection for Asia25 and the rest of the world, the Asian share in world output will continue to rise, reaching 53% (49% for Asia25) by 2030.11 In contrast, the output share of the US and the EU27 will decrease to 14% and 13%, respectively. [...] In the following year, China over- 2.5 took Japan’s position to become the second- largest economy in the world, next to the US.13 The turn in Japan’s fortunes came in 2.0 the early 1990s. [...] In this section we discuss per capita GDP performance as a gap relative to the US in 2021.22 Figure 3.16 shows the percentage point differences in 21: The productivity account in the current edition of the Databook is the first to consider the impacts of MER assets.
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- 205
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- Japan
