globalisation
TRANSCRIPT
GLOBALISATION:South korea (1960s to 2000s)
Submitted by-• Priyanka Bajaj – A01• Pushpinder Sandhu – A02• Amanjoot- A03• Varnika –A04
Submitted to:- Makhmoor Bashir
INTRODUCTION South korea is one of the world’s wealthiest
nation. It is a developed country, with a developed market and high-income economy. South Korea was one of the world’s fastest growing economies from the early 1960s to the 1990s and it is still one of the fastest growing developed countries in the 2000s.
Rank according to GDP:- 15th
Rank according to PPP:- 12th
South korea’s economic ranking
South Korea is member of organization for economic co-operation and development (OECD) and the G-20 major
economies.
South Korea was one of the few developed countries that was able to avoid a recession during the Global Financial Crisis. In 2012 South Korea was 7th largest exporter as well as importer in the world.
1) Shipbuilding2) Automobile3) Mining4) Construction5) Tourism
Main sectors of South Korea:-
Following the korean war, South Korea remained one of the poorest countries in the world for over a decade. In 1960 its gross domestic product per capita was $79.
After World war II, korea has experienced significant
economic growth and it becomes a prime example of Newly industrialised countries.
In 1986, manufacturing industries accounted for approximately 30 percent of the gross domestic product (GDP) and 25 percent of the work force.
CASE SUMMARY
For the first half of the 1990s, the south korean economy continued as a stable and strong growth in both private consumption and GDP.
The stable economy change quickly in 1997 with the
ASIAN FINANCIAL CRISIS. But in these crisis IMF ( International Monetary Fund) help the country, and then 1999,when countries growth rise again, then president (Kim-dae-jung) declared the country from free of crisis.
CASE SUMMARY
1) Less economic growth Poor natural resources Low saving rate Tiny domestic market.
2)
FINANCIAL CRISIS / LIQUIDITY CRISIS.
KEY ISSUES
Before 1960s Issue
1990s Issue
I1)
Outward-looking strategy Develop competitive advantage
2)
Support from IMF( International monetary fund) Raise many funds from external sources
SOLUTIONS
Solution of 1960s Issue
Solution of 1990s Issue
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1) High quality labor supply.2) Free from corruption.
3) Support from International monetary fund.
4) FDI
1) Poor natural resources.2) Depend on outsources.
3) More privatisation.4) Less government
control.
SWOT Analysis
Strengths Weaknesses
Opportunities Threats
SHF
1) Should try to enhance the agricultural growth.
2) Must create a balance between privatistion and political control.
3) Should enhance their internal resources because its very much helpful in financial crisis.
4) Should create the reserves for future fluctuations.
RECOMMENDATIONS
1) As the world moves into 21st century, the globalisation of the nations has become the major issue at that time.
2) Every countries wants to move towards the high technology & higher industrialisation.
3) South korea is the perfect example of a globalised nation through it shifting emphasis towards rapid industrialisation, technological innovation .
4) Less government influence also helps the South Korea’s sustainable economic growth but does not helpful in financial crisis.
CONCLUSION
CURRENT POSITION
1) Rank in GDP:- 15th
2) Rank in PPP:- 12th
3) Position as a exporter:- 6th
4) Position as a importer:- 8th
THANKYOU…