China
China's government controls its economy. Although it has shown progess in becoming a market command, it is still more of a command economy. It relies a lot on agriculture and in recent years, service/industry.
Japan
Japan used to have a traditional economy. Traces of it still exist in several places, but now, it invests heavily in human capital - Japan needs educated workers for technology. There are entrepreneurs too.
North Korea
Kim Jong-il controls North Korea, and its economy is very isolated. It does not do much trading with other countries.
Both countries have become closer to market economies.
They are closer to command economies than a market economy.
Both countries make a fraction of their GDP by fishing.
Mixed economies - there are no pure economies today.
Analyze Eastern Asia Economies
Japan, China, and North Korea are 3 very different countries. This venn diagram will compare and contrast their economies to help your knowledge of economies!
