Growth for votes
Article Abstract:
Analysts warn of the long-term repercussions of South Korea's rapidly expanding economy. However, the warnings are practically set aside because of preoccupation over the upcoming elections. Economic planners forecast an increase of 8% in the country's Gross National Product in 1992 compared to an increase of 8.6% in 1991. The US$71.9 billion increase in 1991 exports was negated by the rise in oil imports, which was triggered by the Persian Gulf War. In addition, the number of bankruptcies rose, inflation stayed at a high level and wholesale and consumer prices increased.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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Peak performer
Article Abstract:
Hong Kong is exhibiting strong economic growth. Massive construction spending in neighboring Guangdong province in Southern China and in Hong Kong itself is expected to translate into a 6% growth in Hong Kong's Gross Domestic Product (GDP) in 1992, up from the 3.9% GDP growth in 1991. However, the inflation rate went up to 9.3% in Jun, 1992, due mainly to the shortage in labor and excess liquidity. Increasing inflation is not worrying Hong Kong's economic planners, who see inflation as natural in the face of strong economic growth.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1992
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The pressures of winning: success is generating questions about changing the system
Article Abstract:
South Korea has achieved most of its goals but many problems remain for the country and new ones continue to appear. The current-accounts deficit is skyrocketing despite record exports, thanks to imports from Japan to support heavy industry. Low-wage industries vanished overnight in the 1980s, an event whose repercussions continue. International opinion remains mixed, and various govt policies are increasing the govt's share of the GDP, wiping out any remaining small companies, and locking out foreign investors.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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