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PatrickGHBusan
Joined: 24 Jun 2008
Location: Busan (1997-2008) Canada 2008 -
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 Posted: Mon Nov 07, 2011 7:45 am Post subject: |
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| You just described a common economic model used by numerous emerging nations in the 20th century. Korea benefited from the same type of market suppot Japan had before. Its an economic and national intrest issue for the US and these countries. |
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komerican
Joined: 17 Dec 2006
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| Posted: Sun Nov 13, 2011 10:19 pm Post subject: |
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| le-paul wrote: |
Im no expert on this subject but didnt the miracle on the Han come from the fact the US gave so many billion dollars to Korea and Japan gave a so many billion dollars amounting to a figure higher than 19 billion in total - where is the miracle in that (not really a 'purely Korean enterprise' quote)?. They were also bailed out in the 90s by the US government with huge loans of billions of dollars.
And about the foreign market, havent Korean companies been merging with other companies such as Samsung/renault?
Nuclear power plants, shipbuilding, train builiding, aircraft industry etc rely heavily on foreign instruction/engineers dont they and only make specific parts or construct the product after its been manufactured in other countries?
I must admit, I was surprised reading that article becasue its not the information I have been fed over the last few years.
Like I say, im no expert so please feel free to correct me...
and what ever else... |
Didn't Europe get a lot of aid/loans after WWII? A little thing called the Marshall Plan. And most countries borrow foreign technology at the early stage of development. It's only when Korea does it that people take umbrage. |
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Quack Addict
Joined: 31 Mar 2008
Location: Seoul
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| Posted: Mon Nov 14, 2011 9:44 pm Post subject: |
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| some waygug-in wrote: |
Is that her picture?
Hmmm
Actually, I think Korean business leaders are quite proud of their protectionist policies.
Protectionism has served both Japan and Korea quite well, why change a good thing? |
The Koreans are already making up a beauty contest to invite her to! |
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Panda
Joined: 25 Oct 2008
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| Posted: Mon Nov 14, 2011 11:53 pm Post subject: |
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| Quack Addict wrote: |
| some waygug-in wrote: |
Is that her picture?
Hmmm
Actually, I think Korean business leaders are quite proud of their protectionist policies.
Protectionism has served both Japan and Korea quite well, why change a good thing? |
The Koreans are already making up a beauty contest to invite her to! |
However, KT always always has the most disgusting ugly advertisements among all websites I visit. I never browse KT while eating. |
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Mr. BlackCat
Joined: 30 Nov 2005
Location: Insert witty remark HERE
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| Posted: Mon Nov 21, 2011 9:30 pm Post subject: |
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| komerican wrote: |
| le-paul wrote: |
Im no expert on this subject but didnt the miracle on the Han come from the fact the US gave so many billion dollars to Korea and Japan gave a so many billion dollars amounting to a figure higher than 19 billion in total - where is the miracle in that (not really a 'purely Korean enterprise' quote)?. They were also bailed out in the 90s by the US government with huge loans of billions of dollars.
And about the foreign market, havent Korean companies been merging with other companies such as Samsung/renault?
Nuclear power plants, shipbuilding, train builiding, aircraft industry etc rely heavily on foreign instruction/engineers dont they and only make specific parts or construct the product after its been manufactured in other countries?
I must admit, I was surprised reading that article becasue its not the information I have been fed over the last few years.
Like I say, im no expert so please feel free to correct me...
and what ever else... |
Didn't Europe get a lot of aid/loans after WWII? A little thing called the Marshall Plan. And most countries borrow foreign technology at the early stage of development. It's only when Korea does it that people take umbrage. |
But those European countries were world powers and rich before WWII, and so was Japan. Korea was one of the poorest countries in the world before all the aid and foreign technology poured in. I'm not trying to discount the hard work and perseverance of Koreans, but it's apples and oranges. Besides, ask many Europeans and they will acknowledge that the US helped rebuild Europe (despite their current problems with the country)* while most Koreans will not.
*I'm talking in academics and literature, not to mention the observance of war dead from other countries. Also, I'm not hyping the charity of the US, it was all done in the face of the "Red Threat". |
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Uncle_D
Joined: 13 Dec 2011
Location: canada
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| Posted: Wed Dec 14, 2011 9:41 pm Post subject: |
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| Mr. BlackCat wrote: |
| komerican wrote: |
| le-paul wrote: |
Im no expert on this subject but didnt the miracle on the Han come from the fact the US gave so many billion dollars to Korea and Japan gave a so many billion dollars amounting to a figure higher than 19 billion in total - where is the miracle in that (not really a 'purely Korean enterprise' quote)?. They were also bailed out in the 90s by the US government with huge loans of billions of dollars.
And about the foreign market, havent Korean companies been merging with other companies such as Samsung/renault?
Nuclear power plants, shipbuilding, train builiding, aircraft industry etc rely heavily on foreign instruction/engineers dont they and only make specific parts or construct the product after its been manufactured in other countries?
I must admit, I was surprised reading that article becasue its not the information I have been fed over the last few years.
Like I say, im no expert so please feel free to correct me...
and what ever else... |
Didn't Europe get a lot of aid/loans after WWII? A little thing called the Marshall Plan. And most countries borrow foreign technology at the early stage of development. It's only when Korea does it that people take umbrage. |
But those European countries were world powers and rich before WWII, and so was Japan. Korea was one of the poorest countries in the world before all the aid and foreign technology poured in. I'm not trying to discount the hard work and perseverance of Koreans, but it's apples and oranges. Besides, ask many Europeans and they will acknowledge that the US helped rebuild Europe (despite their current problems with the country)* while most Koreans will not.
*I'm talking in academics and literature, not to mention the observance of war dead from other countries. Also, I'm not hyping the charity of the US, it was all done in the face of the "Red Threat". |
Yes Korea received foreign aids, but so did a bunch of other countries in SE Asia and look at where they are now. Unarguably, the biggest development in the Korean economy happened during Park Chung Hee's rule, and this was the time that Korea's relationship with the US was at its low-point. Kennedy ceased American aid to Korea when Park came to power as he was a military dictator. Korea's first aid actually came from West Germany through the wages of hundreds of nurses/miners being sent there being set as mortgage. During this period, Korea normalized relations with Japan, in return for more aid. Japanese corporations also thrived in return with the opened Korean market (think Lotte).
Next big step was when Korea entered the Vietnam War and would eventually end up sending almost half a million soldiers there to fight on America's behalf. The soldier's salary was paid by the US in $$, which meant more currency for development. This money was used to build national highways and industrial centers. Etc, etc..
As for the IMF bailout, it certainly wasn't free money and came with a long list of demands, from which foreign investors benefited handsomely. As for the industries mentioned in the original post, Samsung chairman always had a dream of producing automobiles. Due to being unable to buy Kia (Hyundai bought it instead), Samsung became a minority partner in the Renault Joint Venture. I believe the Samsung logo is for marketing purposes only.
As for shipbuilding, China is now world's no1 shipbuilder by gross tonnage, but Korea is the world leader in more advanced commercial vessels (LNG). AS for train building, Korean high speed trains have been having a bad year accidents wise (bad maintenance), but quality-wise, is still first-class, probably a bit below Japan's and Germany's. But export markets (Brazil) look good. Aircraft industries is one of the weaknesses so far, but Korea has shown solid development in the past few years (T-50).
AS for Japan being a world power before WW2, all of that was null by the end of WW2. Japan was in ruins and perhaps even worse shape than Korea as its government was run by foreign occupiers (Americans). It was through the Korean War and the Red Threat that prompted Americans to rethink their policies vis a vis Japanese reconstruction and switched from a punitive rule to rapidly developing Japan's economy. This was helped as America shipped its war materials through Japanese ports when heading to Korea. (Japanese politician's quote: Korean War was a miracle sent from God). So Japan, like Korea, had to completely rebuild itself. |
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pegasus64128
Joined: 20 Aug 2011
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| Posted: Wed Dec 14, 2011 10:03 pm Post subject: Re: shockingly blunt article wins KT contest |
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| rainism wrote: |
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| Amidst a global environment of deregulation and highly mobile capital, Korea has remained a bastion of protectionism |
..
 You go girl!
| Quote: |
Deeply instilled xenophobia presents another persistent obstacle that must be reconciled. Seoul will not be a first choice location in a global economy until it can enhance its allure to expatriates and match the level of convenience that other global business hubs provide. |
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Yeah..you ..go girl!
This girl is someone that doesn't get it. Name one country that has benefited from deregulation and globalization - not one, nada.
Korea is doing exactly as it should do, like it or not.
Korea exports their products all over the world to Western suckers that are only too happy to buy them. The Japanese make sure to buy their own stuff for the most part, the Koreans certainly do.
Westerners couldn't queue up fast enough to buy second-rate Chinese goods. Koreans just make their own, protect their own, and take advantage of the fact that Western policy will, and is, doing everything it can to help Asia protect itself, at it's own expense.
Go ask the wealthy business person in Korea's thriving economy as he takes his fancy Korean made Samsung SM-5 to the ski resort (with all Korean-made infrastructure) how he's suffering so harshly from Korean protectionism. He isn't and I doubt he'd want to be a big enough sucker like the K-girl who wrote the article, and get Korea to bend over to 'Globalization' like Greece etc. and take it.
Korea is a long way from needing IMF bailout again. Their debt is only about 40% of GDP - compare to America ~90%, Greece ~160% and rising fast etc. etc.
Goldman Sachs forced Korea into Protectionism by showing Asia how NOT to do it with a lack of protectionism, as it's being done in America.
Furthermore, I don't want to hear Americans extolling virtues on why this school girl is right and Korea's policy makers are wrong. America's collapsing social values, crime, education and quality of life underlines this.
The only thing rebutting it are kids (and fan-boys of kids) that simply just don't get it...
There's far too much corruption in the "free" market, and stocks (rigged) to embrace non-protectionist globalization. Korea knew this but is showing signs of IQ reduction. |
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