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In macroeconomics, an industry is a branch of an economy that produces a closely-related set of raw materials, goods, or services. When evaluating a single group or company, its dominant source of revenue is typically used by industry classifications to classify it within a specific industry. However, a single business need not belong just to one industry, such as when a large business diversifies across separate industries. Industries, though associated with specific products, processes, and consumer markets, can evolve over time. One distinct industry (for example, barrel making) may become limited to a tiny niche market and get mostly re-classified into another industry using new techniques. At the same time, entirely new industries may branch off from older ones once a significant market becomes apparent (as the semiconductor industry becomes distinguished from the wider electronics industry). Industry classification is valuable for economic analysis because it leads to largely distinct categories with simple relationships. However, more complex cases, such as otherwise different processes yielding similar products, require an element of standardization and prevent any one schema from fitting all possible uses. "
East Asia is the eastern region of Asia, which is defined in both geographical and ethno-cultural terms. The modern states of East Asia include China, Japan, Mongolia, North Korea, South Korea, and Taiwan. China, North Korea, South Korea and Taiwan are all unrecognised by at least one other East Asian state due to severe ongoing political tensions in the region, specifically the division of Korea and the political status of Taiwan. Hong Kong and Macau, two small coastal quasi-dependent territories located in the south of China, are officially highly autonomous but are under de jure Chinese sovereignty. Japan, Taiwan, South Korea, Mainland China, Hong Kong, and Macau are among the world's largest and most prosperous economies. East Asia borders Siberia and the Russian Far East to the north, Southeast Asia to the south, South Asia to the southwest, and Central Asia to the west. To the east is the Pacific Ocean and to the southeast is Micronesia (a Pacific Ocean island group, classified as part of Oceania). East Asian people comprise around 1. 7 billion people, making up about 38% of the population in Continental Asia and 20. 5% of the global population. The region is home to major world metropolises such as Beijing, Hong Kong, Seoul, Shanghai, Taipei, and Tokyo. Although the coastal and riparian areas of the region form one of the world's most populated places, the population in Mongolia and Western China, both landlocked areas, is very sparsely distributed, with Mongolia having the lowest population density of a sovereign state. The overall population density of the region is 133 inhabitants per square kilometre (340/sq mi), about three times the world average of 45/km2 (120/sq mi). Countries in East Asia, China, Hong Kong, Japan, Macau, Mongolia, North Korea, South Korea, Taiwan.