List of Figures and Tables Figure I-1-1-1-1 Growth rate of emerging countries and percentage within the global economy... 2 Figure I-1-1-1-2 Export ratio of ROK and Southeast Asia and real GDP per capita... 3 Figure I-1-1-1-3 Changes in inward direct investment from abroad to ASEAN... 4 Figure I-1-1-1-4 Long-term trend of GDP in China... 5 Figure I-1-1-1-5 Changes in real GDP growth rate of China (year-on-year rate)... 5 Figure I-1-1-1-6 Changes of GDP scales in major countries... 6 Table I-1-1-1-7 Impacts of Chinese economy... 6 Figure I-1-1-1-8 Share of major countries within global export... 7 Figure I-1-1-1-9 Share of major export products of China within global export... 8 Figure I-1-1-10 Trend in China's GDP composition by demand... 9 Figure I-1-1-11 Years when the percentage of investment to GDP peaked in major countries... 9 Figure I-1-1-1-12 Gross fixed capital formation (GFCF) and final consumption in China (ratio to the world total)... 10 Figure I-1-1-13 Household consumption and gross fixed capital formation (GFCF) in Singapore (ratio to the world total)... 11 Figure I-1-1-1-14 Household consumption and gross fixed capital formation (GFCF) in Malaysia (ratio to the world total)... 11 Figure I-1-1-1-15 Household consumption and gross fixed capital formation (GFCF) in Thailand (ratio to the world total)... 12 Figure I-1-1-1-16 New WTO member countries and regions since 2001... 13 Figure I-1-1-1-17 Trend in export value by destination from EU (tn. $)... 14 Figure I-1-1-1-18 Internet usage in major countries... 15 Figure I-1-1-1-19 Change in volume of container cargoes and volume index related to the exports from Japan... 15 Figure I-1-1-1-20 Ratio of the distribution cost to sales in Japan (%)... 16 Figure I-1-1-1-21 Trends in export value, outward direct investment stock and patent royalty in the world (ratio to nominal GDP)... 17 Figure I-1-1-1-22 Import value in China by production process (bn. $)... 19 Figure I-1-1-1-23 Share of import value in China by production process... 19 Figure I-1-1-1-24 World primary energy consumption (100 mil. oil conversion tons)... 20 Figure I-1-1-1-25 Current account of OPEC member countries... 21 Figure I-1-1-1-26 Long-term trend of GDP in Brazil... 21 Figure I-1-1-1-27 World share of emerging and developed countries in final consumption and investment... 22 Figure I-1-1-2-1 Trends of current account in major countries in the world... 23 Figure I-1-1-2-2 Debts in the non-financial sector in USA (ratio to GDP)... 24
Figure I-1-1-2-3 Bank sector s receivables from USA in major countries (tn. $)... 25 Figure I-1-1-2-4 Holdings of U.S. bonds by foreign countries and shares of Japan and China... 25 Figure I-1-1-2-5 Trends of current account in EU 28 (bn. US$)... 26 Figure I-1-1-2-6 Changes in current accounts of EU 28 before and after global economic crisis (bn. $)... 28 Figure I-1-1-2-7 Debts in the non-financial sector in Spain (ratio to GDP)... 29 Figure I-1-1-2-8 Changes of real GDP growth rate in Spain... 30 Figure I-1-1-2-9 Trends of current account in Spain (bn. US$)... 30 Figure I-1-1-3-1 Geographical distribution of the largest trading partners among Japan, USA, EU15 and China... 31 Figure I-1-1-3-2 Geographical distribution of the largest final demand providers to exports of goods and services in respective countries and regions... 32 Figure I-1-1-3-3 Final demand destinations of value-added exports by ASEAN and geographical distribution... 33 Figure I-1-1-3-4 Share of foreign value added in relation to construction demand in China (2009)... 34 Figure I-1-1-3-5 Shares of Japan and China in nominal value of imports and imports of value added in USA... 35 Figure I-1-1-3-6 Geographical distribution of value added creators to final demand of respective countries... 36 Figure I-1-1-3-7 Share of foreign companies in imports and exports in China... 37 Figure I-1-1-3-8 Share of value added in exports in manufacturing industries from ASEAN (Japan and China)... 38 Figure I-1-1-3-9 Change in composition of export items from ASEAN to China... 38 Figure I-1-1-3-10 Change in value of outward direct investment in ROK (by industry, flow)... 40 Figure I-1-1-3-11 Changes in value of outward direct investment in ROK (by country and region, flow)... 40 Figure I-1-1-3-12 Share of foreign value added creation in exports of goods and services in China... 41 Table I-1-1-3-13 Comparison of top 10 items of ROK imports from and exports to China... 43 Table I-1-1-3-14 Comparison of top 10 major export items in China and ROK (to the world)... 44 Figure I-1-1-3-15 Comparison of similarity of composition of export items between China and ROK (2014)... 45 Table I-1-1-3-16 Major countries that have foreign economic relations with China (Asia, Europe and Africa)... 46 Table I-1-1-3-17 Trends of China s exports to Asia, Europe and Coastal East Africa... 46 Table I-1-1-3-18 Changes of share of Asia, Europe and Coastal East Africa in China s exports.... 47 Table I-1-1-3-19 Composition of China s trade with Asia, Europe and Coastal East Africa by type of goods (goods with the largest share)... 48
Table I-1-1-3-20 Relationship between global real GDP growth rate and volume of imports (elasticity)... 49 Figure I-1-1-3-21 Changes in direct investment in China... 50 Figure I-1-1-3-22 Outward direct investments in major countries (flow base)... 51 Figure I-1-1-3-23 Outward direct investments in major countries (stock base)... 52 Figure I-1-1-3-24 Outward direct investment in China (by region)... 53 Figure I-1-1-3-25 Outward direct investment in China (by industry)... 54 Figure I-1-1-3-26 Cross-border M&A (acquisition) in the world... 55 Figure I-1-1-3-27 Cross-border M&A of China (by partner country and industry)... 56 Figure I-1-1-3-28 Acquisition of foreign logistic infrastructure by China transport-related cross-border M&A by Chinese companies... 57 Figure I-1-1-3-29 Share of China in exports in major resource-rich countries and Chinese economic cooperation... 58 Figure I-1-1-3-30 Chinese economic cooperation (value of completed projects)... 60 Figure I-1-1-3-31 Share of Chinese economic cooperation (value of completed projects) by region... 60 Figure I-1-1-3-32 Value of Chinese economic cooperation by major country (value of completed projects, 2014)... 62 Figure I-1-1-3-33 Partner countries and regions for Chinese economic cooperation... 62 Figure I-1-1-3-34 Trends in Chinese economic cooperation by major country (value of completed projects)... 63 Figure I-1-1-3-35 Chinese foreign infrastructure cooperation projects reported recently... 66 Figure I-1-1-3-36 Trends in composition ratio of imports from China by type of goods... 67 Figure I-1-2-1-1 Basic structure of Chinese economy... 69 Figure I-1-2-1-2 Changes in China s real GDP growth rate and contributions by demand components... 69 Figure I-1-2-1-3 Changes in China's GDP composition ratio... 70 Column table 1-1 Target and performance of China s economic growth rate... 71 Column figure 1-2 Changes in ratio of job offers in urban areas in China... 71 Column figure 1-3 Changes in registered unemployment rate in urban areas in China... 72 Column figure 1-4 Changes in working-age population (performance) in China... 73 Column figure 1-5 Changes in employed population in China... 74 Column table 1-6 Average number of employed persons required for production valued at 1 million Yuan GDP... 74 Column table 1-7 Ratio of job offers by city... 75 Figure I-1-2-1-4 Changes in production capacity and capacity utilization rate in main industries... 76 Table I-1-2-1-5 Sectors with excess production capacity and capacity utilization rates in China. Data from Guiding Opinions of State Council on Resolving the Serious Excess Production Capacity (October 2013)... 77
Table I-1-2-1-6 Average capacity utilization rate in China... 78 Figure I-1-2-1-7 The growth rate of fixed asset investments (accumulated amount from the beginning of the year, ratio to the same period of the previous year)... 78 Figure I-1-2-1-8 Growth rate of producer prices (ratio to the same month of the previous year)... 79 Figure I-1-2-1-9 Producer prices of major items in China (January to April 2016, compared with that of the same period in the previous year)... 79 Figure I-1-2-1-10 Real GDP growth rate in respective regions... 80 Figure I-1-2-1-11 Changes in China s exports of steel (HS72)... 81 Column figure 2-1 Changes in the growth rate of fixed asset investments by industry... 82 Figure I-1-2-1-12 Changes in China s real GDP growth rate and nominal growth rate... 85 Figure I-1-2-1-13 Changes in China s GDP growth rate by industry... 86 Table I-1-2-1-14 Description of China's GDP growth rates by industry/sector... 87 Figure I-1-2-1-15 Changes in amount of debt in China (ratio to GDP)... 88 Figure I-1-2-1-16 Changes in amount of debt in Japan and China (ratio to GDP)... 88 Table I-1-2-1-17 Audit result on nationwide governmental debts issued by National Audit Office... 89 Figure I-1-2-1-18 Changes in sales price of newly constructed commercial residential buildings in 70 cities... 90 Figure I-1-2-1-19 Trends in Shanghai Composite Index... 91 Figure I-1-2-1-20 Changes in exchange rate of Chinese yuan... 92 Figure I-1-2-1-21 Changes in real effective exchange rate... 92 Figure I-1-2-1-22 Exchange rates of Chinese yuan to the dollar in and outside China... 93 Figure I-1-2-1-23 Changes in spot and future prices of Chinese yuan... 93 Figure I-1-2-1-24 Changes in China's foreign currency reserves... 94 Figure I-1-2-1-25 Prediction of China's population composition (estimation by the United Nations)... 95 Figure I-1-2-1-26 Basic monthly salary of Japanese companies (manufacturing/worker)... 96 Figure I-1-2-1-27 Changes in ROK s real GDP growth rate and contributions (by demand components)... 98 Table I-1-2-1-28 Outlook for ROK s real GDP growth rate... 99 Table I-1-2-1-29 ROK's potential growth rate... 99 Figure I-1-2-1-30 Comparison of dependence of exports in respective countries (2014)... 100 Figure I-1-2-1-31 Changes in ROK's trade balance (ratio to the world total)... 100 Table I-1-2-1-32 ROK's export and import values (by country/region)... 102 Figure I-1-2-1-33 Changes in growth rate of export value in ROK (by major country)... 103 Table I-1-2-1-34 Changes in ROK's export value of major items (ratio to world total)... 104 Figure I-1-2-1-35 Changes in ROK s export value growth rate of major items (ratio to the world total)... 105 Figure I-1-2-1-36 Changes in ROK s composition ratio of major export destinations
(export value basis)... 106 Figure I-1-2-1-37 Changes in ROK s composition ratio of major import destinations (import value basis)... 106 Figure I-1-2-1-38 Trade relationship between Japan, ROK and China (2015)... 107 Figure I-1-2-1-39 Changes in ROK s trade balance (to China)... 108 Table I-1-2-1-40 Changes in ROK s export value of major items (ratio to China)... 109 Figure I-1-2-1-41 Changes in ROK s import value growth rate of major items (ratio to China)... 110 Figure I-1-2-1-42 Changes in ROK s import value (by major country)... 111 Figure I-1-2-1-43 Changes in ROK s outward direct investment value (by major country)... 111 Column Figure 3-1 Changes in ROK s trade value (by major country)... 113 Column Figure 3-2 Changes in ROK and USA s trade value... 114 Column Figure 3-3 Changes in ROK s export value to USA (by major item)... 115 Column Figure 3-4 Changes in ROK s import value from USA (by major item)... 115 Figure I-1-2-1-44 Changes in real GDP growth rates in ASEAN countries... 117 Figure I-1-2-1-45 Changes in Indonesia s real GDP growth rate and contributions by demand components... 118 Table I-1-2-1-46 Changes in Indonesia s real GDP and contributions by demand components (numerical scheme of Figure I-1-2-1-45)... 118 Figure I-1-2-1-47 Changes in Indonesia's real GDP and contributions by industry... 119 Figure I-1-2-1-48 Changes in Indonesia s real GDP growth rate and contributions by industry (numerical scheme of Figure I-1-2-1-47)... 119 Figure I-1-2-1-49 Changes in Indonesia s inward direct investment (investing countries and regions)... 120 Figure I-1-2-1-50 Changes in Indonesia s inward direct investment (investment target)... 121 Figure I-1-2-1-51 Changes in Indonesia s trade balance... 122 Figure I-1-2-1-52 Changes in Indonesia s exports (ratio to the previous year) (contributions of top 5 countries)... 122 Figure I-1-2-1-53 Changes in Indonesia s exports (ratio to the previous year) (contributions of top 5 items)... 123 Figure I-1-2-1-54 Changes in Indonesia s exports (share of top 5 items and natural resources)... 124 Table I-1-2-1-55 Changes in Indonesia s imports (comparison of 2000 and 2004)... 124 Table I-1-2-1-56 Changes in ratio of exports in Indonesia (comparison of 2000 and 2014)... 125 Figure I-1-2-1-57 Changes in dependence of exports in ASEAN countries... 125 Figure I-1-2-1-58 Dependence of imports in ASEAN countries... 126 Figure I-1-2-1-59 Changes in ratio of exports to China in exports in ASEAN countries... 127 Figure I-1-2-1-60 Share of exports to China in exports in ASEAN countries.... 127 Figure I-1-2-1-61 Changes in Indonesia s trade balance (to China)... 128 Figure I-1-2-1-62 Changes in Indonesia s exports to China (top 10 items) (HS 4-digit base)... 129
Table I-1-2-1-63 Changes in Indonesia s exports to China (top 10 items) (HS 4-digit base) (numerical scheme of Figure I-1-2-1-62)... 129 Figure I-1-2-1-64 Changes in industrial structure of Indonesia... 131 Figure I-1-2-1-65 Forecast of Indonesia s population composition (estimation by the United Nations)... 131 Figure I-1-2-1-66 Gap between production capacity and actual production volume in the global steel market... 133 Figure I-1-2-1-67 Changes in export price from China (average of all steel)... 133 Table I-1-2-1-68 Successive construction of large steel plants in Asia... 134 Figure I-1-2-1-69 Changes in the number of anti-dumping measures in the world by sector... 135 Figure I-1-2-1-70 Changes in the number of safeguard measures in the world by sector... 136 Figure I-1-2-2-1 Changes in major commodity prices... 137 Figure I-1-2-2-2 Changes in real GDP growth rate and crude oil price in resourcerich countries... 137 Figure I-1-2-2-3 Real GDP growth rates of Russia and Brazil... 138 Figure I-1-2-2-4 Changes in exchange and crude price WTI in major resource-rich countries... 138 Figure I-1-2-2-5 Changes in five-year CDS spread in resource-rich countries... 139 Figure I-1-2-2-6 Changes in share of resources in trade goods... 140 Figure I-1-2-2-7 Changes in trade by goods in Malaysia... 141 Figure I-1-2-2-8 Changes in trade by goods in Indonesia... 141 Figure I-1-2-2-9 Changes in trade by goods in Saudi Arabia... 142 Figure I-1-2-2-10 Changes in trade by goods in Brazil... 142 Figure I-1-2-2-11 Changes in trade by goods in Russia... 143 Figure I-1-2-2-12 Ratio of the outstanding obligation to GDP in nonfinancial private corporate sector (%)... 144 Figure I-1-2-2-13 Changes in the ratio of the outstanding obligation to GDP in major emerging countries (2008Q3-2015Q3, percentage point)... 145 Figure I-1-2-2-14 Debt repayment burden of nonfinancial and household sectors in major emerging countries... 145 Figure I-1-2-2-15 Debt repayment burden of nonfinancial and household sectors in Brazil, ROK and China... 146 Figure I-1-2-2-16 Rise in leverage of listed companies in emerging countries (2007-2013)... 146 Figure I-1-2-2-17 Rise in leverage of listed companies in major emerging countries (2007-2014)... 147 Figure I-1-2-2-18 Corporate bond issues and project finance tranches by Brazilian companies (100 mil. $)... 148 Figure I-1-2-2-19 Ratio of private-sector debts in Brazil that are dollar denominated... 149 Figure I-1-2-2-20 Changes in household debts in major emerging countries (2008Q3-2015Q3, percentage point)... 150
Figure I-1-2-2-21 Changes in the ratio of households' debt balance to GDP in ASEAN countries... 150 Figure I-1-2-2-22 Coverage rate of credit information concerning the adult population... 151 Figure I-1-2-2-23 Ratio of global imbalance to nominal GDP... 152 Figure I-1-2-2-24 Changes in current balance in major countries in the world... 152 Figure I-1-2-2-25 Changes in scale of global imbalance... 153 Table I-1-2-3-1 Major targets for 2016 (e.g. Report on Government Activity, National People s Congress)... 154 Table I-1-2-3-2 Priority measures for 2016 (Report on Government Activity, National People s Congress)... 155 Figure I-1-2-3-3 Targets for the 13th five-year plan... 158 Figure I-1-2-3-4 Overview of the 13th five-year plan... 159 Table I-1-2-3-5 Efforts of Chinese government to resolve the excess production capacity... 161 Figure I-1-2-3-6 5 scenarios of the birth rate in China (population estimate by the United Nations)... 164 Figure I-1-2-3-7 Working-age population in China (population estimate by the United Nations)... 165 Figure I-1-2-3-8 Total population of China (population estimate by the United Nations)... 166 Table I-1-2-3-9 Changes in working-age population in China (2010-2040)... 166 Table I-1-2-3-10 Made in China 2025... 167 Table I-1-2-3-11 Innovation-related international rankings... 168 Figure I-1-2-3-12 Changes in R&D expenses in China... 169 Figure I-1-2-1-13 Top 10 countries for international patent applications (2015)... 170 Table I-1-2-3-14 Nationalities of top 10 companies for international patent applications (2015)... 170 Figure I-1-2-3-15 Changes in real GDP growth rate in emerging countries... 171 Figure I-1-2-3-16 Changes in India s real GDP growth rate and contributions by demand... 172 Figure I-1-2-3-17 Changes in India s real GVA growth rate and contributions by industry... 173 Figure I-1-2-3-18 India s growth rates by industry... 174 Figure I-1-2-3-19 India s nominal GDP growth rates... 175 Figure I-1-2-3-20 India s GDP (nominal growth rates, real growth rates and deflators)... 175 Figure I-1-2-3-21 Changes in India s current balance... 176 Figure I-1-2-3-22 Changes in India s fiscal balance... 177 Table I-1-2-3-23 TEAM INDIA (Policy and Vision for 2022)... 178 Figure I-1-2-3-24 Changes in India s exchange rate... 179 Figure I-1-2-3-25 Trends of stock prices in India... 180 Figure I-1-2-3-26 Trend in consumer price index in India... 181 Table I-1-2-3-27 Eliminating restrictions on foreign investment in India... 183 Figure I-1-2-3-28 Future prediction of India s population composition (estimation by the United Nations)... 186
Table I-1-2-3-29 Outlook for India s real GDP growth rate... 186 Figure I-1-2-3-30 Ratio of India s GDP to the World... 187 Column Figure 4-1 Changes in India s exports of goods and services (ratio to GDP)... 188 Column Figure 4-2 Changes in India s net exports of services (breakdown)... 189 Column Figure 4-3 Changes in sales of IT industry in India... 190 Column Figure 4-4 Destinations for IT-BPM exports in India... 190 Column Figure 5-1 Changes in India s trade to China... 191 Column Figure 5-2 Changes in India s export items to China (contributions)... 192 Column Figure 5-3 Composition of India s export items to China (comparison of 2010 and 2015)... 192 Column Figure 5-4 Changes in India s import items from China (contributions)... 194 Column Figure 5-5 Composition of India s import items from China (comparison of 2010 and 2015)... 194 Figure I-1-2-3-31 Overview of ROK's Three-Year Plan for Economic Innovation... 196 Figure I-1-2-3-32 Percentages of employed persons in ROK by industry and ratio of added value to nominal GDP (2014)... 198 Table I-1-2-3-33 Ratio of added value in service sector to nominal GDP in major countries (2014)... 198 Figure I-1-2-3-34 Changes in share of values of exports and resource exports in nominal GDP... 200 Table I-1-2-3-35 Major expenditure items in Russia s anti-crisis plan for 2016... 202 Figure I-1-2-3-36 Output gap (horizontal axis) and structural fiscal balance (vertical axis) in Central and South American countries... 203 Figure I-1-2-3-37 Changes in Argentina's real GDP growth rate... 205 Figure I-1-2-3-38 Changes in the increase rate of consumer prices (CPI) in Argentina... 205 Figure I-1-2-3-39 Changes in Argentina s international balance of payments... 206 Figure I-1-2-3-40 Changes in exchange rate of Argentine peso... 207 Figure I-1-2-3-41 Ratio of fiscal balance to GDP in oil-producing countries in Middle East... 208 Figure I-2-1-1 Economic growth rates before and after the economic crisis... 210 Table I-2-1-2 Economic outlook on the United States and Europe in the Monthly Economic Report (issue of December of each year)... 210 Figure I-2-1-3 Transition Downward revisions of developed countries growth rates by the IMF s World Economic Outlook reports... 212 Figure I-2-1-4 Changes in the GDP gap in the OECD member countries... 213 Figure I-2-1-5 Changes in the number of employees and wage level by occupation type United States... 215 Table I-2-1-6 Occupational classification and task classification... 217 Figure I-2-1-7 Changes in the shares of employees by task type around the world... 220 Figure I-2-1-8 Trend in the number of employees by task type... 221 Figure I-2-1-9 Trend in the number of employees by occupation type... 222
Figure I-2-1-10 Trend in the number of employees by occupation type (ordinance-designated cities) (from 1992 to 2012)... 223 Figure I-2-1-11 Trend in the number of employees by occupation type (non-ordinance-designated cities) (from 1992 to 2012)... 224 Figure I-2-2-1 Changes in the working-age population and capital stock in individual countries... 228 Figure I-2-2-2 Changes in the TFP of individual countries... 229 Figure I-2-2-3 Decomposition of each country s potential growth rate... 230 Figure I-2-2-4 TFP growth necessary for achieving a potential growth rate... 232 Figure I-3-1-1 Changes in the share of value added by the services industry in nominal GDP... 235 Figure I-3-1-2 Relationship between per-capita GDP and the share of the services industry in GDP (2014)... 236 Figure I-3-1-3 Changes in the industrial structure in China (GDP and the number of employees)... 237 Figure I-3-1-4 Changes in the industrial structure in China (shares)... 237 Figure I-3-1-5 Changes in China s real GDP growth rate (by industry)... 238 Figure I-3-1-6 Changes in the composition of China s GDP... 239 Table I-3-1-7 Share of capital formation in GDP... 239 Figure I-3-1-8 Changes in the growth rate of retail sales in China by item... 240 Figure I-3-1-9 Growth rate of retail sales in China by item (2015)... 241 Table I-3-1-10 Value and growth rate of Internet sales in China (2015)... 242 Figure I-3-1-11 Growth rate of retails sales in China (ratio to the same month of the previous year)... 242 Figure I-3-1-12 Growth rate of disposable income per capita in Chinese urban areas (accumulated amount from the beginning of the year, ratio to the same quarter of the previous year)... 243 Figure I-3-1-13 Changes in the value of global exports of goods and services... 244 Figure I-3-1-14 Changes in the value of global exports of goods and services (ratio to nominal GDP)... 245 Figure I-3-1-15 Growth rate of goods and services trade (exports)... 246 Figure I-3-1-16 Growth rates of goods and services trade (imports)... 246 Figure I-3-1-17 High-income countries shares of goods and services exports and imports in world... 247 Figure I-3-1-18 Changes in goods and services trade balance in major countries... 248 Figure I-3-1-19 Changes in countries shares in global services exports... 248 Figure I-3-1-20 Contribution to the growth rate of global services exports by country (2005-2014) (top 20 countries)... 249 Figure I-3-1-21 Contribution to the growth rate of global services imports by country (2005-2014) (top 20 countries)... 250
Figure I-3-1-22 Changes in the value of global services exports by sector (2005-2014)... 251 Figure I-3-1-23 Ratio of the value of exports of travel services to nominal GDP (2014)... 252 Figure I-3-1-24 Changes in the value of global services exports (share of each sector)... 253 Figure I-3-1-25 Changes in the value of global services exports (contribution on a year-on-year basis)... 254 Figure I-3-1-26 Ratio of services exports to nominal GDP in the G20 countries (2014)... 255 Figure I-3-1-27 Relationship between the value of service exports and share of value added by the services industry (ratio to nominal GDP) (2014)... 256 Figure I-3-1-28 Changes in services trade balance in major countries... 257 Figure I-3-1-29 Changes in services exports (United States)... 258 Figure I-3-1-30 Changes in services exports (United Kingdom)... 259 Figure I-3-1-31 Changes in services exports (ROK)... 260 Figure I-3-1-32 Changes in services exports (Taiwan)... 260 Figure I-3-1-33 Changes in services exports (China)... 261 Figure I-3-1-34 Changes in services exports (Germany)... 261 Figure I-3-1-35 Changes in services exports (Japan)... 262 Figure I-3-1-36 Contribution to the growth rate of the value of exports of telecommunications, computer and information services (9.7%) by country (2005-2014) (top 20 countries)... 264 Figure I-3-1-37 Value of exports of telecommunications, computer and information services (2014) (top 20 countries)... 264 Figure I-3-1-38 Ratio of the value of exports of telecommunications, computer and information services to nominal GDP (2014)... 265 Figure I-3-1-39 Growth rate of exports of telecommunications, computer and information services in ROK and Estonia (2005-2014)... 265 Table I-3-1-40 Government systems of the ROK and Estonia... 266 Table I-3-1-41 Definition of telecommunications, computer and information services... 267 Figure I-3-1-42 Ratio of the value of exports of professional services to nominal GDP (2014)... 268 Figure I-3-1-43 Growth rate of exports of professional services in major countries and contribution to the growth rate by item (2010-2014)... 269 Figure I-3-1-44 Value of exports of research and development services (2014) and its growth rate (2010-2014) sin major countries... 269 Figure I-3-1-45 Value of exports of professional and business consulting services (2014) and its growth rate (2010-2014) in major countries... 270 Figure I-3-1-46 Value of exports of technical, trade-related services, and business services (2014) and its growth rate (2010-2014) in major countries... 270 Figure I-3-1-47 Trade balance concerning professional services (United States)... 271 Figure I-3-1-48 Trade balance concerning professional services (United Kingdom)... 272 Figure I-3-1-49 Trade balance concerning professional services (Germany)... 273
Figure I-3-1-50 Trade balance concerning professional services (Japan)... 274 Figure I-3-1-51 Changes in the share of the value of exports of professional services by country... 275 Figure I-3-1-52 Contribution to the growth rate of the global market of professional services (growth rate of the value of imports) (8.8%) by country (2005-2014) (top 20 countries)... 275 Table I-3-1-53 Definition of professional services... 276 Figure I-3-1-54 Ratio of the value of exports of product-related services to nominal GDP (2014)... 277 Figure I-3-1-55 Value of exports of maintenance and repair services and its growth rate (2005-2014)... 277 Figure I-3-1-56 Changes in the share of value of exports of maintenance and repair services by country... 278 Figure I-3-1-57 Changes in the growth of value of exports of maintenance and repair services... 279 Figure I-3-1-58 Comparison of the value of exports of maintenance and repair services and that of products... 280 Table I-3-1-59 Definition of product-related services... 280 Figure I-3-1-60 Ratio of the value of receipts of royalties and license fees to nominal GDP (2014)... 281 Figure I-3-1-61 Contribution to the growth rate of the value of receipts of royalties and license fees (6.8%) by country (2005-2014) (top 20 countries)... 282 Figure I-3-1-62 Contribution to the growth rate of payments of royalties and license fees (6.8%) by country (2005-2014) (top 20 countries)... 282 Figure I-3-1-63 Changes in the growth rate of value of receipts of royalties and license fees... 283 Figure I-3-1-64 Changes in the share of value of receipts of royalties and license fees... 283 Figure I-3-1-65 Changes in the breakdown of royalties and license fees in the United States... 284 Figure I-3-1-66 Changes in the breakdown of royalties and license fees in Japan... 285 Table I-3-1-67 Definition of royalties and license fees... 285 Figure I-3-1-68 Ratio of the value of exports of financial services to nominal GDP (2014)... 286 Figure I-3-1-69 Ratio of the value of exports of insurance and pension services to nominal GDP (2014)... 287 Figure I-3-1-70 Ratio of the value of exports of transport services to nominal GDP (2014)... 287 Figure I-3-1-71 Ratio of the value of exports of construction services to nominal GDP (2014)... 288 Figure I-3-1-72 Ratio of the value of exports of public services to nominal GDP (2014)... 288 Figure I-3-1-73 Share of value added by the services industry in manufacturing industry exports... 289
Figure I-3-1-74 Share of value added by business services in agricultural exports... 290 Figure I-3-1-75 Sources of value added concerning exports in the agricultural sector... 290 Column Figure 6-1 Four modes of services trade under the WTO GATS... 292 Column Figure 7-1 Examples of solution cores... 294 Figure I-3-2-1 Volume of global data flow and estimates for the future... 295 Figure I-3-2-2 Changes in overseas sales of innovative industries in the United States... 296 Table I-3-2-3 Recent trends in digital platforms in emerging countries... 297 Figure I-3-2-4 Annual income of the users of major online platforms in the United States... 297 Figure I-3-2-5 Supply and demand curves in the state of monopoly... 300 Figure I-3-2-6 Supply and demand curves under the direct network effect... 300 Figure I-3-2-7 Supply and demand curves under the indirect network effect... 301 Table I-3-2-8 Microeconomic background that supports platform businesses... 301 Figure I-3-2-9 Conceptual diagrams for the direct and indirect network effect... 302 Figure I-3-2-10 Influence of the use of IT in the state of monopoly... 302 Figure I-3-2-11 Influence of the use of IT under the direct network effect... 303 Figure I-3-2-12 Supply and demand curves under direct network effect in the AI sector centered on data accumulation... 303 Figure I-3-2-13 Creation of a cross-sectoral platform... 304 Figure I-3-2-14 Business model for a virtuous cycle to maintain and strengthen the competitive advantage... 305 Table I-3-2-15 Example of platforms that lower the marginal cost through the use of IT... 305 Figure I-3-2-16 Models for the creation of cross-sectoral platforms... 306 Figure I-3-2-17 Influence of the use of IT under the indirect network effect... 306 Table I-3-2-18 Example of data localization... 310 Figure I-3-3-1 Urbanization rates of major emerging countries and regions... 314 Figure I-3-3-2 Projections of demand for infrastructure by sector in emerging and developing countries (2014-2020)... 315 Figure I-3-3-3 Projections of demand for and investments in infrastructure in emerging and developing countries (2014-2020)... 316 Figure I-3-3-4 Composition of expenditures of subnational governments in Asian countries and regions (ratio to GDP)(2012)... 317 Figure I-3-3-5 Changes in the amount of funds for infrastructure development through the PPP (based on financing contracts)... 317 Figure I-3-3-6 Average number of power failures per month in each region... 318 Figure I-3-3-7 Amount of losses that companies incur due to power failures in each region (%)... 318 Figure I-3-3-8 Correlation between the real GDP growth rate and the quality of electricity supply (2005)... 319 Figure I-3-3-9 Correlation between the real GDP growth rate and the quality of roads (2005)... 320
Figure II-1-1-1 Changes in Japan s current account balance... 322 Figure II-1-1-2 Changes in the value of payments in Japan s current account... 322 Figure II-1-1-3 Value of receipts in Japan s current account and composition of contributions to the growth (2015)... 323 Figure II-1-1-4 Export partners' shares in 2015 and contribution of countries and regions to the export growth rate... 324 Figure II-1-1-5 Shares of export items in 2015 and contribution to the export growth rate by item... 324 Table II-1-1-6 Contribution to the export growth rate by country and item... 325 Figure II-1-1-7 Average annual growth rate of exports of the manufacturing industry by region (2010-2014)... 326 Figure II-1-1-8 Shares of regions in Japan s exports (2014)... 326 Figure II-1-1-9 Regions contributions to Japan s export growth rate (from 2010 to 2014)... 327 Table II-1-1-10 Contributions to the export growth rate in the manufacturing industry by region and industry (from 2010 to 2014)... 327 Figure II-1-1-11 Goods and services exports of Japan, China and Germany as a percentage of GDP... 328 Figure II-1-1-12 Changes in exports of the EU countries (as a percentage of GDP) (exports to outside the EU)... 329 Figure II-1-1-13 Changes in the number of Japanese affiliates overseas and their sales... 330 Figure II-1-1-14 Japan s exports to China by goods... 330 Figure II-1-1-15 Japanese affiliates in China (2013)... 331 Figure II-1-1-16 Location of Japanese affiliates (FY2013)... 332 Table II-1-1-17 Major imported items of China (top items based on the import value)... 333 Table II-1-1-18 Imported items of China (top items based on the growth rate)... 334 Figure II-1-1-19 Changes in the share of goods in China s imports... 335 Figure II-1-1-20 Changes in China s import values by country... 336 Figure II-1-1-21 Composition of items imported to China from Japan and their growth rates... 337 Figure II-1-1-22 Composition of items imported to China from major countries and heir growth rates... 338 Figure II-1-1-23 Changes in Japan s services import and export values (trillion yen)... 342 Figure II-1-1-24 Changes in global goods and services trade... 342 Figure II-1-1-25 Growth rate of the export of professional services of major countries and contribution ratio by item (2010-2014)... 343 Figure II-1-1-26 A model for a company s productivity and overseas expansion... 345 Figure II-1-1-27 Ratio of goods exports to GDP for Japan and major Europe countries... 346 Figure II-1-1-28 Ratio of services exports to GDP... 347 Figure II-1-1-29 Ratio of services exports to GDP... 347 Figure II-1-1-30 Ratio of inward and outward foreign direct investments to GDP for major countries... 348
Figure II-1-1-31 Change in ratio of foreign direct investment balance to GDP... 349 Figure II-1-2-1 (Reshown) Changes in the ratio of the inflow of workers who have completed tertiary education to the population... 352 Figure II-1-2-2 Changes in the number of foreign students in major countries... 353 Figure II-1-2-3 Changes in the proportion of students who obtained a job in Japan... 354 Figure II-1-2-4 Foreign students desired career path after graduation (area of employment)... 355 Table II-1-2-5 Systems to attract highly skilled foreign professionals... 357 Figure II-1-2-6 Foreigners view on living and working in Japan... 358 Figure II-1-2-7 Dissatisfaction with working in Japan... 359 Figure II-1-2-8 Average wages by age group in Japan and major Europe countries... 360 Figure II-1-2-9 Composition of foreign students in Japan [by nationality]... 361 Figure II-1-2-10 Composition of foreign students in Japan [by major]... 361 Figure II-1-2-11 Foreign study destinations for Chinese students (undergraduate students, etc.)... 362 Figure II-1-2-12 Foreign study destinations for Chinese students (master s degree)... 363 Figure II-1-2-13 Foreign study destinations for Chinese students (doctor s degree)... 363 Figure II-1-2-14 Routes of recruitment of foreign workers... 364 Figure II-1-2-15 Changes in the number of workers with analytical talent... 365 Figure II-1-2-16 Acquisitions by Google... 366 Figure II-1-2-17 Companies view on the supply of IT workers... 368 Figure II-1-2-18 Need for and securing of workers with IT integration skills at IT companies and user companies... 368 Figure II-1-2-19 Factors to which IT engineers attach importance when switching jobs... 369 Figure II-1-2-20 Level of satisfaction with the current jobs and workplace environment... 370 Figure II-1-2-21 Annual income distribution among the respondents... 371 Figure II-1-2-22 Job rank of respondents... 372 Figure II-1-2-23 Items which engineers think are appreciated in the workplace... 373 Figure II-1-2-24 Elements related to the frequency of participation in training (recognition of necessity)... 374 Figure II-1-2-25 Elements related to the frequency of participation in training (level of satisfaction with working hours)... 375 Figure II-1-2-26 Reasons for the desire to work abroad... 376 Figure II-1-2-27 Countries in which IT engineers wish to work... 377 Figure II-1-2-28 Silicon Valley, the automobile industry s new major cluster in the United States... 378 Figure II-1-2-29 Number of Japanese companies in the Bay Area... 379 Figure II-1-2-30 Approaches to the incorporation of foreign technologies... 380 Figure II-1-2-31 Issues faced by Japanese companies when incorporating foreign technologies... 381
Figure II-1-2-32 Key points in forming alliances with or acquiring foreign companies and employing local workers... 381 Figure II-1-2-33 Key points concerning the training of employees... 382 Figure II-1-2-34 Changes in TFP (by industry) (1)... 383 Figure II-1-2-35 Changes in TFP (by industry) (2)... 385 Figure II-1-2-36 Industries with a high productivity should expand their scale, while those with a low productivity should raise their productivity... 388 Figure II-1-2-37 Channels of knowledge diffusion across national borders... 389 Figure II-1-2-38 Changes in global technology trade... 390 Figure II-1-2-39 Current status of technology trade in Japan s manufacturing industries (1)... 391 Figure II-1-2-40 Current status of technology trade in Japan s manufacturing industries (2)... 392 Figure II-1-2-41 TFP of the Japanese manufacturing industries... 393 Figure II-1-2-42 External technology trade is closely related to TFP... 394 Table II-1-2-43 Estimation results concerning the international movement of human resources and innovation... 397 Figure II-1-2-44 Changes in the number of short-stay commercial visitors to Japan, the United States and China... 398 Figure II-1-2-45 Share of immigrants (those with academic achievement and highly skilled workers) in OECD countries... 399 Figure II-1-1-20 Change in the amount of Japan s service imports and exports (trillion yen) (repost)... 400 Table II-2-1-1 Changes in the services trade balance (Japan)... 401 Figure II-2-1-2 Changes in services account balance (Japan) (on the yen basis)... 402 Figure II-2-1-3 Services account balance and import and export values (Japan) (2015)... 403 Figure II-2-1-4 Growth rate of services imports and exports by item (Japan) (2005-2015)... 405 Figure II-2-1-5 Services account balance and import and export values (United States) (2014)... 406 Figure II-2-1-6 Changes in services account balance (United States) (royalties and license fees)... 406 Figure II-2-1-7 Growth rate of services imports and exports by item (United States) (2005-2015)... 407 Figure II-2-1-8 Countries contributions to the growth rate of services exports by sector... 408 Figure II-2-1-9 Ratio of services exports to GDP in G20 countries (2014)... 409 Figure II-2-1-10 Changes in the value of services imports (by region)... 410 Figure II-2-1-11 Distribution of TFP of non-exporters, goods exporters and services exporters... 411 Figure II-2-1-12 Productivity of and wages at goods and services exporters... 412 Figure II-2-1-13 Comparison between OECD countries and non-oecd countries in terms of OECD Services Trade Restrictiveness Index (STRI) (2015)... 414 Figure II-2-1-14 OECD Services Trade Restrictiveness Index (STRI) (2015)
(telecommunications)... 416 Figure II-2-1-15 OECD Services Trade Restrictiveness Index (STRI) (2015) (legal services)... 417 Figure II-2-1-16 Impact of a reduction in the STRI by 0.05 on imports and exports... 418 Figure II-2-1-17 Growth rate of the value of services exports and outward foreign direct investments in the services sector (2006-2012)... 420 Figure II-2-1-18 Growth rate of the value of services exports and outward foreign direct investments in the services sector (royalties and license fees)... 421 Figure II-2-1-19 Changes in the balance of outward foreign direct investments (services industries)... 422 Figure II-2-1-20 Changes in the balance of outward foreign direct investments (services industries) (ratio to GDP)... 422 Figure II-2-1-21 Shares of industries in the balance of outward foreign direct investments (2014)... 423 Figure II-2-1-22 Value of return from outward foreign direct investments and rate of return (value of return/balance) (services industries)... 424 Figure II-2-1-23 Shares of industries in the value of return from outward foreign direct investments (2014)... 425 Figure II-2-1-24 Rate of return from outward foreign direct investments (value of return/balance)... 426 Table II-2-1-25 New trends in Japan s services trade... 426 Column Figure 10-1 Breakdown of royalties and license fees (2013)... 428 Column Figure 10-2 Size of the contents markets in major foreign countries... 429 Column Figure 10-3 Size of the overseas contents market and the share of Japanese contents in sales... 430 Column Figure 10-4 Three stages for capturing foreign demand under the Cool Japan Strategy... 430 Column Figure 10-5 28th Tokyo International Film Festival... 431 Figure II-2-1-26 Ratio of investment in brands, human resources and organizations to GDP in major countries (cited from 2013 White Paper on International Economy and Trade)... 432 Figure II-2-1-27 International comparison of intangible assets/gdp... 433 Figure II-2-1-28 Changes in companies investments in human resource development in Japan (excluding OJT)... 433 Figure II-2-1-29 International comparison of investment in human resource development (excluding OJT) (ratio to GDP)... 434 Figure II-2-1-30 General conference of the IoT Acceleration Consortium... 437 Figure II-2-1-31 Organization of the IoT Acceleration Consortium... 437 Figure II-2-1-32 First meeting of the Support Committee for the IoT Acceleration Lab... 438 Figure II-2-1-33 Venue of IoT Lab Connection (Matching Event)... 438 Figure II-2-1-34 IoT Lab Selection... 439
Table II-2-2-1 Ranking of the number of foreign tourists (2014)... 441 Figure II-2-2-2 Changes in the number of tourists around the world... 442 Figure II-2-2-3 Changes in the number of tourists and tourism revenue in various countries (2004-2013)... 442 Figure II-2-2-4 Changes in the number of arrivals and departures in Japan... 443 Figure II-2-2-5 Changes in Japan s balance relating to travel (ratio to GDP)... 444 Figure II-2-2-6 Changes in the balance relating to travel (ratio to GDP) by region... 444 Figure II-2-2-7 Changes in travel service receipts and payments (ratio to GDP) by region... 445 Figure II-2-2-8 Examples of experience-based tourism programs in France... 446 Figure II-2-2-9 Volume of shipments of Beaujolais Nouveau wine to countries... 447 Figure II-2-2-10 Number of tourists to the Gironde department... 447 Figure II-2-2-11 Initiatives by ONLY LYON and the results... 448 Figure II-2-2-12 Comparison of entry fees at major cultural heritage sites in Japan and Europe... 449 Figure II-2-2-13 Changes in tourists expectations before and after their visits to Japan and distribution of the number of visits to Japan... 450 Figure II-2-2-14 Composition of foreign tourists to Japan by nationality... 451 Figure II-2-2-15 Consumption per capita by Chinese tourists by item... 451 Figure II-2-2-16 Recent exchange rates of China Yuan Renminbi to Japan Yen... 452 Figure II-2-2-17 Length of stay of foreign visitors to Japan by nationality and their consumption per capita... 452 Figure II-2-2-18 Comparison of the number of tourists from the United Kingdom to major Asian countries (2014)... 453 Figure II-2-2-19 Japan selection rate and annual frequency of foreign travel among tourists to Japan... 454 Figure II-2-2-20 Japan selection rate in various countries (2014)... 454 Figure II-2-2-21 Ratio of tourists to Japan and Thailand from various regions (2014)... 455 Figure II-2-2-22 Ratio of repeat visitors to Japan (tourists coming to Japan for sightseeing and leisure purposes) (2015)... 456 Figure II-2-2-23 Changes in the percentage of tourists who are willing to visit Tokyo and local regions... 456 Figure II-2-2-24 Accumulated number of foreign visitors staying in each prefecture and concentration in prefectures in the top 20%... 457 Figure II-2-2-25 Accumulated number of foreign visitors staying in each region and concentration in regions in the top 20%... 458 Figure II-2-2-26 Comparison of tourism consumption in Japan and France and interests of foreign visitors to Japan... 458 Figure II-2-2-27 Outline of the measures under the Tourism Vision to Support the Future of Japan... 459 Figure II-2-2-28 Companies' initiatives to create opportunities for business with
foreign tourists... 460 Figure II-2-2-29 Foreign workers capable of handling foreign visitors to Japan (n=1893)... 461 Figure II-2-2-30 Thai government s initiatives on tourism... 462 Figure II-2-2-31 Ratio of exports of travel services to GDP (2014)... 462 Figure II-2-2-32 Growth and breakdown of MICE-related tourism revenue... 463 Figure II-2-2-33 Changes in the number of foreign tourists to Thailand (2007-2015)... 464 Figure II-2-2-34 Number of visitors to Thailand and Japan by nationality... 464 Figure II-2-2-35 Average length of tourists stay in Thailand by country of residence... 465 Figure II-2-2-36 Composition of tourists nationality in the number of tourists to Thailand and the total number of days of stay (2014)... 465 Figure II-2-2-37 Trends in tourists to Thailand (2014) (tourists to Japan = 1)... 466 Figure II-3-1-1 Changes in gross prefectural product (nominal) by region... 470 Figure II-3-1-2 Changes in the number of employees (manufacturing industry)... 471 Figure II-3-1-3 Changes in the number of employees in the manufacturing industry and in the non-manufacturing industry... 472 Figure II-3-1-4 Changes in the number of employees by region (all industries)... 472 Figure II-3-1-5 Changes in the youth population by region... 473 Figure II-3-1-6 Changes in direct exports by region (manufacturing industry)... 474 Figure II-3-1-7 Changes in the growth rate of direct exports by region... 475 Figure II-3-1-8 Changes in the proportion of exporting establishments in Japan s manufacturing industry (by sector)... 476 Figure II-3-1-9 Changes in the proportion of exporting establishments in Japan s manufacturing industry (by region)... 476 Figure II-3-1-10 Changes in the dependency on direct exports (manufacturing industry)... 477 Figure II-3-1-11 Ratio of exports to the total value of shipments in the manufacturing industry in Japan (by region)... 478 Figure II-3-1-12 Ratio of exports in the manufacturing industry by company size (2013/2014)... 478 Figure II-3-1-13 Changes in the ratio of exports among SMEs in the manufacturing industry (2002/03-2013/14)... 479 Figure II-3-1-14 Growth in direct exports and value of shipments among SMEs in the manufacturing industry... 480 Figure II-3-1-15 Comparison of large enterprises and SMEs in the manufacturing industry concerning growth in direct exports... 480 Figure II-3-1-16 Changes in SMEs share in the value of direct exports by the manufacturing industry... 481 Figure II-3-1-17 Contribution to the export growth of the manufacturing industry by company size... 482 Figure II-3-1-18 Proportion of business establishments that recorded higher growth in the value of direct exports than in the value of domestic shipments... 483
Figure II-3-1-19 Proportion of business establishments that recorded higher growth in the value of direct exports than in the value of domestic shipments (by industry)... 483 Figure II-3-1-20 Contribution by exports to the total sales value... 484 Figure II-3-1-21 Changes in the difference between companies with increasing exports and non-exporting companies in terms of the growth rate of the payroll... 485 Column Figure 12-1 (Reference) Influence of exports on the increasing rate of the number of employees (elasticity)... 486 Figure II-3-1-22 Distribution of the export growth rate by region in Japan and Germany (from 2003 to 2008)... 487 Figure II-3-1-23 Distribution of the export growth rate by region in Japan and Germany (from 2008 to 2013)... 488 Table II-3-1-24 Average and dispersion of the export growth rate by region... 488 Table II-3-1-25 Status of exports by prefecture (manufacturing industry)... 489 Figure II-3-1-26 Average growth rates of groups of prefectures classified by the scale of exports (from 2002/03 to 2013/14)... 490 Figure II-3-1-27 Average growth rates of groups of prefectures classified by the scale of exports (from 2007/08 to 2013/14)... 490 Figure II-3-1-28 Distribution of export ratio by region in Japan and Germany... 491 Figure II-3-1-29 Contribution by region and by sector to the growth rate of total direct exports in Japan (manufacturing industry)... 492 Table II-3-1-30 Contribution by region and by sector to the growth rate of total direct exports in Japan (manufacturing industry)... 492 Figure II-3-1-31 Growth rate of direct exports by the manufacturing industry in Japan (positive and negative contributions by region and by sector)... 493 Figure II-3-1-32 Lorenz curve of the accumulation of positive contributions to the growth rate of direct exports in Japan... 494 Table II-3-1-33 Growth rate of direct exports and contribution by sector in region (Japan)... 495 Table II-3-1-34 Growth rate of direct exports and contribution by items in region (Germany)... 496 Table II-3-1-35 (Reference) Division of the prefectures into the 17 regions in Figure 2-3-1-35... 497 Figure II-3-1-36 Changes in exports by the manufacturing industry by state in Germany (contribution to export growth by items with increasing exports and items with decreasing exports)... 498 Figure II-3-1-37 Changes in exports by the manufacturing industry by prefecture in Japan (contribution to export growth by sectors with increasing exports and sectors with decreasing exports)... 499 Figure II-3-1-38 Ratio of regions with increasing direct exports by sector (Japan)... 500