Past Economics South Korea

Post-Korean War Reconstruction (1950s-1960s)

 Rebuilding the economy

 Export oriented industrialization strategy.

Miracle on the Han River (1960s-1970s)

 Rapid economic growth fueled by various industries

 Government-promoted industrialization

Financial Crisis (Late 1990s)

 Government prioritizes corporate restructuring, financial reform, and foreign investment.

Transition to Knowledge Economy (2000s-Present)

 People choose to invest in education and technology

 Research and development, entrepreneurship, and creative industries are promoted

Export Diversification and Market Expansion

 South Korea starts exporting to Southeast Asian, Latin American, and African markets.
 Free trade agreements (FTAs) enhance market access by reducing trade barriers.

Early Socialist Era (1949–1970s)

 The socialist system placed a strong image on full employment and moderate
urbanization.

China Past economic policies

Economic Reforms and Opening Up (1978-2000s)

  Deng Xiaoping's reforms moved China toward an economy moved on markets, which
resulted in substantial growth but also raised rates of unemployment in urban areas.

Rapid Growth and Urbanization (2000s-Present)

 The rise in manufacturing, the expansion of infrastructure, and urbanization drove the
economy's rapid expansion.

Budget deficit (2024): $607.57 billion USD, 3% of GDP

Japans Inflation:

Post-WWII Reconstruction (1945-1955)

 Rebuilding infrastructure
 Economic stabilisation
 Price controls

High Growth Era (1955-1973)

 Maintaining price stability

Bubble Economy (Late 1980s)

 Asset price inflation

 Liquidity trap

Lost Decades (1990s-2000s)

 Persistent deflation
 Introduction of uantitative easing

Abenomics and Beyond (2010s-Present)

 Shinzo Abe’s "Abenomics"

 Monetary easing, fiscal stimulus, and structural reforms