 As of 2019, Japan, South Korea, Taiwan, and Hong Kong are the four East Asian countries and regions that are considered developed markets by most economic indexes, and Singapore is the sole developed market by all economic indexes in Southeast Asia.Since the end of the 20th century, Japan's role as the principal economic power in the region has shifted to the Four Asian Tiger economies and more recently, China, which became world's second largest economy in 2010.Furthermore, a 2012 report by "The Economist" noted that South Korea is expected to overtake Japan in terms of GDP per person at power purchasing parity by 2017, a feat already accomplished by Macau (2010), Taiwan (2010), Hong Kong (1997), and Singapore (1993).