fuck me

1072 Words3 Pages
bulb-icon

Recommended: How democracy affects economic development

Economic growths has always been valued in the countries of East Asia. Occasionally, in order to improve an economy rapidly a government may have to be in complete control and not progress politically. Two economic strategies known as export promotion strategy and liberalization were favored by East Asian countries. These two strategies were done cause economic growth but were not the most political progressive. Countries such as South Korea and China participated in these strategies. Both had to different levels of democratization, labor rights, and political consolidation of power. Unfortunately, countries such as South Korea and China have prioritized economic growth over political progress. South Korea was extremely involved with export promotion strategy (EPS), which is the state protecting infant industries. The state’s Economic Planning Boards would choose which industry needed protection from outside competition. There were tax breaks and credit given to those favored industries, while tariff were placed on industries from other countries that were trying to compete in that sector (Lecture 5). South Korea would accumulate the fourth largest debt in 1985 because EPS but that would not slow its growth (Lecture 5). EPS leans more towards economic growth than political progress because most liberal nations do not place tariffs on the competition. South Korea was able to grow and that would be enough to stifle any political reform. There are other tactics than EPS that other nations would actively pursue. Trade liberalization was a part of China’s economic plan that created immediate growth in the nation. The nation was quick to adopt liberal trade policies but would protect the emerging domestic markets during the 1980s. The... ... middle of paper ... ...ents that consolidate little of their power are unable to directly help business. By not waiting for the market to fix itself the government is using extreme amounts of power to help the businesses, which is prioritizing economic growth over political progress. The economic progress of the countries of East Asia has been simply amazing, and many look to keep growing. Part of that economic growth has been at the cost of political progress, this even applies to the democratic states. Unfortunately, worker rights have been ignored in order to increase productivity. Governments are heavily invested financial in the different sectors, such as the SOEs of China or the chaebols of South Korea. Power is largely consolidated, and that allows the governments to be invested into these corporations. Overall, economic progress is the product of a sacrificed political progress.

Show More
Related

  • Guns, Germs, And Steel Review

    1281 Words  | 3 Pages

    ...conomically beneficial trade and technology development. In this regard the Epilogue uses sound logic to plausibly answer the wealth question. On the other hand, Mr. Diamond uses the same "national competition" thesis to purport that Asia's large, centralized governments were conspicuously growth-inhibitive. This argument would not seem to pass muster given what we have learned about the role of governments. Professor Wright's slides state that "Centralization may limit predation and even allow for growth" as "centralized predation = incentives to maximize the haul…" This clearly refutes Mr. Diamond's argument that centralized, monopolistic Asian governments impaired societal advances. Thus, Guns, Germs, and Steel can scantly explain why China and the Middle East remain emerging markets while Western and Northern Europe enjoy significantly larger national wealth.

    Read More

  • Japanese and German Imperialism in the Late 19th Century

    1212 Words  | 3 Pages

    Even though industrialization benefited and progressed society in both Germany and Japan it was impossible for all levels of the political hierarchy to benefit equally. After all it is the “fundamental role of the state as an institution in the capitalist world economy to augment the advantage of some against others in the market.” (Wallerstein, 3). The government has the complete ability to control who benefits from the capitalist market. The two classes that generally benefited from the prosperity of the capitalist market during industrialization were the middle and upper classes. More specifical...

    Read More

  • Analysis Of The Us-China Trade

    1570 Words  | 4 Pages

    The current trade imbalance is caused in large part by intrinsic features of China's labor market and consumer base. The vast majority of China's 1.3 billion people still live in rural areas. China has, by some estimates, a surplus rural labor force of 120 million people, many of whom migrate to industrial centers to look for factory work, and drive down wages. As long as wages are low, the United States will continue to gobble up products made in China, while Chinese consumers will prefer to buy cheaper, homespun alternatives to American products. The rise in trade deficit with China has come at a cost to jobs in the United States, accordin...

    Read More

  • The Transition of World Economic Ideology from Gilpin’s Time to the 21st Century

    824 Words  | 2 Pages

    ...ubmitting accession applications to the EU (Steger, 2003.) China, the world’s current second largest economy (IMF Historical data, 2013), has also been moving towards liberalism trade policy. Since the late 1980s imports subject to licensing have been greatly reduced and total controlled exports in their economy have been reduced from 66% in 1991 to 8% in 1999. China’s private sector has also been growing and fewer people are being employed in state-controlled manufacturing jobs (Lardy, 2003.) The transformation and elimination of communism around the world has all but removed Marxist ideology from the global economic perspective.

    Read More

  • North Korean Genocide

    584 Words  | 2 Pages

    Japan was imperializing late nineteenth century to early twentieth century. Korea was a Japanese colony. After World War II, the Japanese had to get rid of the colony. North Korea became a Communist. South Korea wants to be democratic.

    Read More

  • Korean War Dbq

    507 Words  | 2 Pages

    Over three million Koreans died, millions of them were displaced, cities were destroyed, and the economy was in chaos. These frightful events happened consequently from the Korean War. The Koreans felt as though there was not enough money in the world to rebuild and revitalize their country. However, it wasn’t as bad for the North as they were recovering faster and better than the south. In fact after the Korean War, South Korea was one of the world's poorest countries with less than $100 per capita income. They had no economy to speak of, thus no foreign exchange. At this point, South Korea was in

    Read More

  • Foreign Trade with China

    2820 Words  | 6 Pages

    The massive increase in the Chinese trading relations was fueled by the United States in the year 1979 through the normal trade relations between the two countries. In addition, the Chinese non-concession to the World Trade Organization (WTO) in the year 2001 also facilitated its trading activities with different countries including the United States (Kaplan, 57). However, trading relations with the Chinese have been uneasy resulting from the massive trade imbalances in the recent past, which grows exponentially. The protectionist policies of the United States especially in Washington and Beijing have been putting pressure on the Chinese to revalue their currency as well as protecting it from counterfeits, which may be of adverse effects to the trading relations. This paper gives a comprehensive discussion on the foreign trade relations with china. It further gives an elaborate discussion on the impacts of foreign tr...

    Read More

  • Analysis Of Peppermint Candy

    1944 Words  | 4 Pages

    South Korea is a country that has rapidly developed. But the country also experienced military dictatorship in the 1980s

    Read More

  • Japan And China In The 21st Century Essay

    1922 Words  | 4 Pages

    And as China transforms its economy into a ‘socialist market economy’ it is held that the attendant social, economic, and political transformations necessitate that its state controlled IRs system is decentralized and more so, it should be converge with international best practice IR standards (Zhu, Warner, & Feng, 2011). Although the Chinese government has endeavored to reform its labor market, the “deep-rooted national culture and its long history of centralized state power” as exhibited by the tenets of the all-powerful All-China Federation of Trade Unions1925 (ACFTU), has meant that any initiated IRs reform should be “with Chinese Characteristics” (p.128). It is important to note in the 1980/90s most countries in the Western hemisphere and Asia restructured their IRs systems. This episode can be attributed to factors specific to these countries; but owing to the fact that most of Asia’s economies are linked to the global economy, it is posited that this process may not have been coincidental but it was occasioned by competitive pressures in the global labor market (Kuruvilla & Erickson,

    Read More

  • China's Development

    1177 Words  | 3 Pages

    When the new Chinese Government was set up in 1949, the new government faced a lot of problems. First on their agenda was how to re-build the country. As Communist Party of China (CPC) is a socialist party, their policies at the time were similar to that of the Soviet Union’s. Consequently, the CPC used a centrally planned strategy as its economic strategy when it first began. For a long time, the Chinese economy was a centrally planned economy in which none other than the state owned all companies. In fact, there were absolutely no entrepreneurs. As time went on, the problems of a centrally planned economy started to appear, such as low productivity, which was the key reason for restricting the development of China. With the population growing, the limitations of the centrally planned economy were clear. In 1978 China started its economic reform whose goal was to generate sufficient surplus value to finance the modernization of the Chinese economy. In the beginning, in the late 1970s and early 19...

    Read More

  • Celtic Tiger In Ireland Analysis

    2117 Words  | 5 Pages

    During the twentieth century, the world began to develop the idea of economic trade. Beginning in the 1960’s, the four Asian Tigers, Hong Kong, Singapore, South Korea and Taiwan, demonstrated that a global economy, which was fueled by an import and export system with other countries, allowed the economy of the home country itself to flourish. Th...

    Read More

  • Economy of Singapore

    1064 Words  | 3 Pages

    In this essay we look in-depth on how government strategies and economic policy play a crucial role in the success of High Performance Asian Economies (HPAEs) during 1960 to 1990 (World Bank 1993).There are eight countries within HPAEs: South Korea, Taiwan, Hong Kong, Singapore, Thailand, Malaysia, Indonesia and Japan. Its economic development has significantly rise that it was name ‘East Asia Miracle’ (World Bank, 1993).

    Read More

  • The Miracle on Han River: South Korea

    1100 Words  | 3 Pages

    South Korea, once a broken country filled with broken families, has transformed itself into a fine example of perseverance in a tough situation. South Korea and its neighbor to the north have developed past where they were before the Korean War, but in different ways. The two countries, while certainly dependent on each other, are vastly different. Their conflicting styles of government and their differing cultures speak for themselves in this case. South Korea has, over the years, changed dramatically from the crippled country of the Korean War into a blossoming beacon of Asian cultural and economic changes. The combination of its recent economic importance, its heavy cultural influence, and its constant danger of participating in a war makes South Korea one of the most influential countries in the world.

    Read More

  • Essay On South Korea

    1888 Words  | 4 Pages

    This country is of particular interest as it is one of the four Asian Tiger economies, whose rapid industrialisation and growth between the early 1960’s and 1990’s caused it to emerge as one of the most dynamic and fast-changing countries in Asia and the world. Much like Japan, its economic development was marked by heavy investments in foreign technology and imitation through reverse-engineering. By limiting FDI, South Korea maintained control over its industrial base and encouraged investments in R&D.

    Read More

  • Nuclear Weapons are a Threat To World Peace

    2373 Words  | 5 Pages

    To understand this situation more fully, one must be given some background, starting in the early 1950s. Due to the harsh differences between the peoples of Korea, and especially due to the onset of Communism, the Korean War erupted and the nation split in half, with the Communist-supported Democratic People’s Republic in the north and those who favored democracy in the Korean Republic of the south (Microsoft Encarta Encyclopedia 2000). The two separate countries of North Korea and South Korea went their opposite ways, and each has experienced different fortunes in the past half-century. The South Koreans managed to recover from the turmoil of the 1950s and 1960s to become an economic power and a democracy supporter. On the other hand, North Korea can be viewed as a retro country, based first on a Communist ideology, laid down by leader Kim Il Sung and inherited by his son, the current dictator Kim Jong Il, then evolving into a totalitarian state (Pacific Rim: East Asia at the Dawn of a New Century). Today North Korea holds the distinction of being one of the very few remaining countries to be truly cut off from the rest of the world. Author Helie Lee describes this in her novel In the Absence of Sun: “An eerie fear crawled through my flesh as I stood on the Chinese side of the Yalu River, gazing across the murky water into one of the most closed-off and isolated countries in the world.” (1)

    Read More

More about fuck me

Open Document