Economic Outlook for the Pacific and Implications for Korea

Economic Outlook for the Pacific and Implications for Korea

- Speaker: Lawrence Krause, Professor, UC San Diego

- Date : June 22, 1993.

"Korea is going through a structural change driven by the democratization of the political system on one hand, and wage explosion on the other. The economy is changing and at the same time policy is changing, which is in turn changing the comparative advantage of companies of the economy. What this means is that Korea has first got to look to new products for its comparative advantage and then for new markets within which to sell them. The new markets are clearly and increasingly going to be found in China...”