A region comprised of countries that border the Pacific Ocean. Pacific Rim countries include Australia, Cambodia, China, Hong Kong, Indonesia, Laos, Malaysia, New Zealand, Papua New Guinea, the Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. Although Japan is in the same region, its size as the worldÂ’s second largest economy usually prevents it from being included in the group when talking about economic fundamentals or characteristics of the region. Instead, Japan is cited on a standalone basis and compared with the United States or Europe.