Comments (0) Cite this document
Over the past about three decades from 1960s to 1990s, South Korea has recorded great transformation in its economy developing from a country with low…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.2% of users find it useful
Read TextPreview

Extract of sample "ASIA PACIFIC BUSINESS"

Download file to see previous pages The business and economic strategy based on chaebols took an export and outward-oriented model to boost the country’s economy through business associations. Today, the chaebols have become global powerhouses that have made the economy of South Korea become one of the greatest in the world. Chaebols are multinational conglomerates that are controlled by certain families in South Korea. The chaebols have received immense government support in South Korea resulting in fast economic growth and an increase in the country’s GDP of about 10 percent between the years 1962-1994 (Powers, 2010).
The Korean chaebols have resulted in enormous economic growth of South Korea from early 1960s to early 2000. The economic growth in South Korea was due to the effects from industrial and other services sector. The industrial sector increased its contribution to the country’s economy from 20 to 37 percent while the services sector increased from 43 to 60 percent from 1965 to 2008.
To boost economic growth, the South Korean government fully supported the chaebols. The government nationalized all commercial banks so that the banks could channel all their finances to the chaebols. The chaebols had a great share of the total credit produced by financial institutions. As a result, the chaebols had to fulfill most of their export obligations thus, increasing economic growth in South Korea. The government also developed an export strategy to promote export of goods and at the same time substitute imports that favored the conglomerates. The government also restricted direct foreign investments and used this as a chance to get new technologies and business expertise. As a step to support fast economic growth, the government allowed the chaebols to access foreign loans. In contrast, the government curbed any outflows in domestic capital. Government support of the chaebols was of a great magnitude to the extent that the chaebols expanded unprecedentedly in size. The chaebols had ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“ASIA PACIFIC BUSINESS Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
ASIA PACIFIC BUSINESS Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from
(ASIA PACIFIC BUSINESS Essay Example | Topics and Well Written Essays - 1000 Words)
ASIA PACIFIC BUSINESS Essay Example | Topics and Well Written Essays - 1000 Words.
“ASIA PACIFIC BUSINESS Essay Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document


Asia Pacific Business

...Asia Pacific Business It is known that Asia Pacific has shown its potential when it comes to economic activity. Countries like China, Japan, India,Vietnam, Malaysia and Philippines have shown remarkable economic progression over the last few years. The following essay deals with one such scenario wherein we analyze the relations between US and China and discuss about its business. After making a discussion about the relations with China and US, we make an attempt to understand how such business relations affect another major Asia Pacific Country -Australia. This essay looks into these...
5 Pages(1250 words)Essay

Asia Pacific Business Region

...: Page 8. 4. CULTURE AND BUSINESS: Page 10. 5. ECONOMIC COOPERATION IN THE REGION: Page 12. 6. MODES OF ENTRY INTO THE REGION: Page 13. 7. THE ROLE OF AUSTRALIA AND THE US IN THE APBR: Page 15. 8. A FRAMEWORK FOR COUNTRY ANALYSIS: Page 17. 9. APPENDIX: Page 18. 10. REFERENCES: Page 19. ASIA PACIFIC BUSINESS REGION IN GENERAL Australia has been a western country in the seething sea of inward-looking Orientals. Bred on the ideology of liberalism, it was natural for Australians to take the lead to usher in the materialistic gospel of free trade in the Asia-Pacific region,...
13 Pages(3250 words)Essay

THe importance and influence of Asia Pacific Business and their implications for Australia

...1) From your analysis of Reading 2, what are the opportunities and threats to the US involved with doing business in China In assessing whether to dobusiness in a particular country, the PEST (political, economic, social and technological) factors have to be analyzed. 2) What are the implications of this for Australia Influence and Impact of Asia Pacific on Business in US Political, Economic, Social and Technological Trends Asia Pacific, a region consisting of countries like China, India, Singapore, Australia, New Zealand and many more countries, has of late, been emerging as a formidable power in all walks of life; from...
6 Pages(1500 words)Essay

A Journal Report of the Asia-Pacific Business Region(APBR) and the analysis of countries in APBR

...does not specify the managerial resources of Taiwan’s Council of Agriculture, but the end results of its systematic efforts, and its bold and unequivocal trade projections are illustrative examples for students of niche marketing, competitive intelligence, understanding customers, segmentation, and targeting. Since agriculture plays such a seminal role for the multitudes of most of the APBR, the lessons of Taiwanese agriculture and its impressive accomplishments in this regard, should not be lost (Asia Pacific Business Forum, 2005). Further, these is no reason for agricultural giants such as Australia and the United States to worry, since niche exports and the economies of scale on which...
13 Pages(3250 words)Essay

International Asia Pacific Business

...International Asia Pacific Business Introduction Organizations or firms cannot remain “static”. They has to keep on moving breaking ‘boundaries’ bothgeographically as well as economically, to actualize the opportunities and emerge successful. That is, with every firms wanting to expand their geographical reach and make an imprint in various markets, there will be enough opportunities for it, to initiate an entry into a foreign market. To initiate and actualize the entry, firms have to set targets and formulate various strategies according to the situation prevailing in those foreign markets. While formulating the strategies, the organizations’ leader and the management team will firstly...
10 Pages(2500 words)Essay

The differences between reading content area material and literature

3 Pages(750 words)Essay

Asia Pacific Business

...Asia Pacific Business Table of Contents Table of Contents 2 Introduction 3 Discussion 4 The Nature of Economic Agent 5 The Nature of Market Relations 7 The Nature of Work Co-Ordination and Control System 9 Conclusion 13 References 14 Bibliography 17 Introduction During the past three decades, East Asian economies have developed significantly. Their strong financial growth has been one of the pleasant surprises for the entire world. In this essay, Japan and China have been chosen as the two prime representative countries from the Asia Pacific Zone in order to analyze the similarities and differences of their business systems. The journey...
11 Pages(2750 words)Essay


...Running head: THE ROLE OF IN ECONOMIC GROWTH IN ASIA PACIFIC The Role of in Economic Growth in Asia Pacific by of Professor’s name Date The Role of State in Economic Growth in Asia Pacific Introduction From time immemorial, the role of the state in economic development has attracted attention of different individuals and institutions with interests in economy. In theory, the neoclassical orthodoxy favors the rise of non-interventionist state. They argue that the economy should have free markets to allow it achieve Pareto efficiency in its operation. However, the neoclassical paradigm has been criticized by the proponents of government...
4 Pages(1000 words)Essay

Asia Pacific Business

...organs of the government. This leads to an improved delivery of services. It is possible to use technology in agricultural development (Rowley, 2007). It will enable farmers improve their produce, hence feeding the nation. For example, the use of green houses to produce fruits, and vegetables. Technology helps in the creation of jobs. This is mainly because the government will employ new people in the vacancies brought forth by these technologies. For example, technological innovations in the mobile phone industry will create jobs in the industry. The best technologies in the Asian Pacific Regions are technologies on that facilitate agricultural development, and communication. Bibliography: Aryeetey, E. (2003)....
2 Pages(500 words)Assignment

Global Economy - Asia Pacific Business

...ASIA PACIFIC BUSINESS By Asia Pacific Business The global economy has for years continued to support multinationals and their survival in different environments far from their original countries of set up. In exchange for the survival, the multinationals have helped the economies of these countries grow through the revenues and different infrastructural involvements that they enrich to boost the different economies and through their huge tax abilities. One of the most growing fields in multinational corporations is the automotive industry in which many of the companies involved have opened subsidiaries in different countries to support the performance of their products or deal with the product development in that part of the world... of...
11 Pages(2750 words)Case Study
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic ASIA PACIFIC BUSINESS for FREE!

Contact Us