BIS Review 55/2004  maturing of these indicators can be expected and where per capita income levels are still relatively low compared to East Asia and (iii) China and the Indian subcontinent, where the ageing process is occurring somewhat later and which is far less economically developed.
3  Cf. e.g. the survey in Pedersen, A. M. (2004), Currency Unions and Foreign Trade, Danmarks Nationalbank Monetary Review, 2nd Quarter, pp. 35-50. 2  BIS Review 40/2006  surplus equivalent to around 5 per cent of GDP on external trade in goods and services. 4 This is also a large surplus by international standards.