Download Strategic Choices in Science and Technology: Korea in the by Somi Seong PDF

By Somi Seong

Investigates concepts and regulations for Korea to pursue, really in technology and expertise, in mild of a emerging China.

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By Somi Seong

Investigates concepts and regulations for Korea to pursue, really in technology and expertise, in mild of a emerging China.

Show description

Read Online or Download Strategic Choices in Science and Technology: Korea in the Era of a Rising China PDF

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Additional info for Strategic Choices in Science and Technology: Korea in the Era of a Rising China

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Korea’s Main Economic Concerns About a Rising China 25 External Risk Factors: China’s Overheated Economy Given the structural weaknesses remaining in Korea after the 1997 crisis, Korea is also watching out for external and internal shocks caused by China’s record-breaking growth and expansion in the world economy. 17 Many experts believe the possibility of an abrupt collapse of the Chinese economy is small. 1 percent in 2003 to 7 percent in 2004. However, it is too early to tell whether the measures taken by the Chinese government will be sufficient to cool down the overheated economy and let China enter into a slow, mild recession—a so-called soft landing.

1 2 Strategic Choices in Science and Technology: Korea in the Era of a Rising China The impact of China’s economic rise on the Korean economy has been significant. 1 percent of the country’s total exports. 4 Korean companies and individuals have also joined the investment rush into China to explore the business opportunities in a country growing at breakneck speed and to utilize the abundant and relatively cheap, yet disciplined, labor force for manufacturing. In 2002, Korea was the third-largest investor in China, after Hong Kong and Japan.

Even in the United States in the 1970s and 1980s, the hollowing-out argument was popular as industries moved their assembly processes to countries with cheaper labor, especially in Asia. “Japan bashing” was a term frequently used by journalists in the United States. S. economy was booming, with explosive innovations such as the so-called internet revolution—and hollowing-out stories were already forgotten. 15 The United States also had to wait for more than ten years to graduate from the fear of being hollowed out.

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