Country analysis
Country: South Korea
You be reflecting on the economic condition of your country again, though in a more thorough and focused way than before.
1.) Give an assessment of your country’s economic circumstances and economic position in the world. Don’t just say that it is “pretty good”. Answer:
Is your country industrialized, developing, or stagnating? [How can you tell?]
Is it in the Core, Periphery, Semiperiphery, etc.? [How can you tell?]
Does it control a major resource or have some other economically significant attribute that is important for the operation of the world economy (key oil or mineral reserves, control of financial institutions, control of important geographic feature, large labor pool, etc.)? If so, explain how this effects their position in the global economy. If not, explain what the consequences of this lack are or have been.
2.) Answer: If your country were to follow Friedrich List’s advice from the reading and lecture, what industries would your particular country want to subsidize or protect and why? Is it doing so already? Be specific.
Information on Friedrich List’s advice:
ebook on
http://books.google.com/books?id=W5iLBAAAQBAJ&pg=PR8&lpg=PR8&dq=Friedrich+List%27s+advice&source=bl&ots=tVBafHitbZ&sig=ARdVN_I727GKmpmC2PMMjanbhyk&hl=en&sa=X&ei=bGJNVIzkKc3-yQTW84DoBA&ved=0CFoQ6AEwDQ#v=onepage&q=Friedrich%20List’s%20advice&f=false
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