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Books > Business & Economics > Economics > International economics > International trade
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Confronting South Korea's Next Crisis - Rigidities, Polarization, and Fear of Japanification (Hardcover)
Loot Price: R4,666
Discovery Miles 46 660
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Confronting South Korea's Next Crisis - Rigidities, Polarization, and Fear of Japanification (Hardcover)
Expected to ship within 12 - 19 working days
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South Korea's economic miracle is a well-known story. However,
today Korea is confronting a new set of internal and external
risks, which may foreshadow the next crisis. The Korean economy has
been struggling with the faltering growth momentum and the rise of
unprecedented socio-economic problems over recent years well before
the pandemic crisis. After abrupt downshifts to markedly slower
growth in the early 2000s, economic growth has continued to
decelerate. Koreans are grappling with slow income growth, all
time-high household debt, high youth unemployment, inequality, and
social polarization. Politics is in disarray and is incapable of
directing social discourse for the common good. Rapid population
aging along with the world's lowest fertility rates stokes fears of
Japanification. Simultaneously, disruptive technologies and
fast-changing business environment such as the rise of China clash
with a range of long-standing structural problems. The contemporary
challenges are radically different from those seen in the early
stages of industrialization. There are multiple risks that threaten
to self-perpetuate low or stagnant growth over the next decade or
so, if not an outright financial crisis. Motivated by these latest
developments, this book seeks to provide a timely and in-depth
analysis of key current issues and foreseeable challenges of the
economy, with a provocative reassessment of its future. Based on
extensive new empirical works, it examines the underlying causes of
the socio-economic problems. In a constructive spirit, it puts in
perspective what would constitute critical elements of ideal policy
solutions and the direction of the future government's role.
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