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Changes in China's Import Structure, and the Mode of Future Sino-Korean Trade
This study focuses on estimating the extent to which Korea contributes to the Chinese market, with the following findings. Since China adopted reform and open door policy in 1978, the amount of trade has increased drastically, acc..
Young-Rok Cheong Date 1993.05.24
Trade structureDownloadContentSummaryThis study focuses on estimating the extent to which Korea contributes to the Chinese market, with the following findings.
Since China adopted reform and open door policy in 1978, the amount of trade has increased drastically, accounting for 36.8 percent of total trade. This shows that the Chinese economy relies heavily on overseas trade. Chinese trade policy has recently undergone extensive internal changes attempting to open the market gradually for China's GATT accession and to improve the system transparently.
However, it is estimated that Chinese trade policy is still relatively complicated and access to the Chinese market is difficult. Chinese overseas trade was seen to increase considerably since the 1980s, mainly in the direction of Asia (Hong Kong, Japan, Taiwan) and North America. China's exports have been focused on labor-intensive products and the primary industry, the products once concentrated on by Korea.
The Chinese government has a tendency to grant local governments comparative deal of autonomy in earning foreign currency while exerting considerable influence on outgoing foreign currency.
In comparison with main competing economies such as Japan, Taiwan, Hong Kong, the United States and Germany, the size of Korea's trade toward China is not so large.
According to the RCA Index, Korea has few competitive exports compared with rival countries, while it has a vantage point in terms of price competitiveness. With a treaty of amity between Korea-China, it is expected that China will be interested in the Korean heavy chemical industry, accelerating China's economic growth. -
China's Industrialization Strategy and Industrial Policy
Since 1989, China's industrial policy has taken on a new dimension. The purpose of its new industrial policy was to narrow the imbalance and inefficiency of the industrial structure by department and region. In addition, Chinese i..
Ick-Soo Kim Date 1993.05.20
Economic development, Industrial policyDownloadContentSummarySince 1989, China's industrial policy has taken on a new dimension. The purpose of its new industrial policy was to narrow the imbalance and inefficiency of the industrial structure by department and region.
In addition, Chinese industrial policy in the 1990s focused on responding exogenous shocks such as the steep growth of the emerging countries, reduced demand on overseas arms, modernization necessity of the navy and air force, and re-entry into GATT. Its industrial strategy is as follow: a strategic fosterage of leading industry in the 21st; a high degree of industrial structure through fostering technology and the information industry; improvement of industrial competitiveness and efficiency through the reorganization and systematization of enterprises; the technical revamp of conventional industry; the rationalization of industrial distribution by region through the fosterage of specialization; and enlargement foreign capital in high-tech industries. -
The Effects of Foreign Exchange Market Intervention and Its Implication on Exchange Rate Policies
Since the floating system was introduced in 1973, there has been a controversy on the effects of foreign exchange market intervention and exchange rate policies. During the mid-to late 1980s, there were a few cases of intervention..
Tae-Joon Kim Date 1993.05.11
Exchange rateDownloadContentSummarySince the floating system was introduced in 1973, there has been a controversy on the effects of foreign exchange market intervention and exchange rate policies.
During the mid-to late 1980s, there were a few cases of interventions among major currencies. The G-7 council generally coordinated these attempts. According to the Jurgensen report released by the G-7 council, 1) sterilized intervention which does not reflect the changes in the volumes currency, has a less effect on exchange rate compared with non-sterilized intervention which reflects those.
2) Sterilized intervention is effective to achieve the goal of short-term exchange rate policies. 3) However, sterilized intervention is ineffective on the long-term policy and can be offset by micro-economic policy. 4) A coordinated intervention based on agreement among country has a greater effect on foreign exchange markets compared with individual intervention.
However as the exchange rate of the yen and mark against to dollar has been appreciated since the Plaza agreement among the G-5 countries included the United States, Germany and Japan in 1985, the study on foreign exchange market intervention is in progress actively. -
The Beginning of Korea's New Economy : The Kim Administration's 100-day Plan
Jang-Hee Yoo Date 1993.05.01
Economic development, Political economyDownloadContentContents
I. Basic Scheme of the New Economy
1. New Engine of Economic Development
2. Outline of the Five-Year Plan for the New Economy
3. Purpose of the 100-Day Plan for the New Economy
II. Major Tasks and Measures of the 100-Day Plan
1. Revitalization of the Economy
2. Structural Improvement of Small-and Medium-Sized Firms
3. Promotion of Technology Development
4. Enhancing the Autonomy of Firms' Activities
5. Restructuring of the Agriculture and Fishery Sector
6. Price Stability of Necessary Goods
7. Reform in the "Way of Thinking"
III. Sharing the Burdens of Building the New Economy
1. Government's Initiative
2. Private Enterprises
3. Financial Institutions
4. Industrial Workers
5. Agricultural Workers
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Korea's New International Economic Diplomacy and Globalization Policy
The Korea Institute for International Economic Policy (KIEP) and the Asia Society of the United States co-sponsored and international seminar entitled, 'Korea's New International Economic Diplomacy and Globalization Policy', which..
Jang Won Suh Date 1993.05.01
DownloadContentSummaryThe Korea Institute for International Economic Policy (KIEP) and the Asia Society of the United States co-sponsored and international seminar entitled, 'Korea's New International Economic Diplomacy and Globalization Policy', which was held on February 19, 1993. During this conference, a number of eminent scholars from the U.S., Korea, Japan and Europe were invited to participate in an open dialogue in wihic insightful political-economic perspectives for Korea's future progress were shared. These proceeding are a collection of the lectures, papers, and formal comments made by the distinguished speakers and discussant. -
Korean Strategy for Economic Cooperation with the Former Soviet Republics
After the collapse of Soviet Union, the former Soviet Republics established the Commonwealth of Independent States (CIS). In doing so, they encountered difficulty in seeking processes for the transition to market economy and polit..
Chang Jae Lee Date 1993.04.15
Economic cooperationDownloadContentSummaryAfter the collapse of Soviet Union, the former Soviet Republics established the Commonwealth of Independent States (CIS). In doing so, they encountered difficulty in seeking processes for the transition to market economy and political independence, thus stifling any real progress in multilateral cooperation.
Despite these obstacles, the long-term prospects for Korea-Eastern Europe economic cooperation are important due to economic, political and military factors. Russia owns abundant natural resources and strong experience in military industries.
First, this paper will assess economic cooperation with the former Soviet Republics by identifying problems and the tasks needed to strengthen the economic ties between the two countries.
Furthermore, this paper will review the economic cooperation of selected countries of the former Soviet Republics, including Russia, Ukraine, Kazakhstan and Uzbekistan, by comparing the environment of economic cooperation. In the last section of this paper, strategy for economic cooperation will be discussed. -
Study on Commodity Choices for Successful Future Trading in Korea
Future trading is an engagement that trades specific items on a specific date and at a specific price. The exchange volume has consistently been on the rise with the option market. Currently about 70 future markets are established..
Cheong-Gu Cho Date 1993.04.08
DownloadContentSummaryFuture trading is an engagement that trades specific items on a specific date and at a specific price. The exchange volume has consistently been on the rise with the option market. Currently about 70 future markets are established in 26 economies, including the United States, England and Japan, and is trading about 100 products. Singapore and Hong Kong, competitors for Korea, have already established futures exchange trading in interest futures, gold futures and stock-related futures. Taiwan also is scheduled to establish a futures market.
Recently, there have been movements among the government, academia and business to establish a domestic future exchange in Korea. As it is more difficult for the Korea government to intervene in markets to stabilize prices, there is an urgent need to come up with a framework helping private groups to prepare for the risk of price fluctuation. -
The Role of Subcontracting in Strengthening the Japanese Automobile Industry's Competitiveness
This paper examines how the Japanese machinery industry has strengthened its competitiveness in spite of the world economic recession. Compared to this, it examines the problems in the Korean economy and finds implications for the..
Chon-Sok Im Date 1993.04.07
Industrial policyDownloadContentSummaryThis paper examines how the Japanese machinery industry has strengthened its competitiveness in spite of the world economic recession. Compared to this, it examines the problems in the Korean economy and finds implications for the Korean economy, focusing on automobile industry. Recently, Korean exports have made a very poor showing due to a sharp rise in wages, the rapid growth of developing nations, a worldwide slump and the strengthening of the trade protection in developed nations. At the peak of the 1980s, Korean economy has lost out to developing countries in the machinery industry, including electronics and electrical equipment, automobiles and labor-intensive products.
Japanese machinery exports have accounted for about 75 percent of total exports in spite of the protective trends of advanced countries, the oil crisis in the 1970s and the sudden appreciation of the yen in the 1980s.
This paper analyzes that key factors affecting competitiveness, finding that the recent importance of the production system has been on the rise among companies as a decisive factor regarding machinery competitiveness. -
Japan's Exchange Rate Policy and Its Effects on Korea's Export and Import
The purpose of this paper is to examine the history of Japan's exchange rate policy after the Second World War and its future direction. In addition, it estimates how fluctuations in Japan's exchange rates have affected the Korean..
Chong-Man Kim Date 1993.03.29
Exchange rateDownloadContentSummaryThe purpose of this paper is to examine the history of Japan's exchange rate policy after the Second World War and its future direction. In addition, it estimates how fluctuations in Japan's exchange rates have affected the Korean economy - in particular, imports, exports and the trade balance. Taking into account Japan's restructuring policy, surplus of international accounts and the export-import structure, Japan's exchange rate policy is likely to allow the revaluation of the yen. Together, the confusion over the Europe monetary system and capital withdrawal from the international finance market by Japanese banks is likely to function as a primary factor in revaluating the yen. However Japanese experts forecast that a gradual decline in the exchange rate of the yen against the dollar will not have a significantly negative Japanese export. -
Studies on Trade Barriers of Developed Countries: Japan
Regionalism has recently spread rapidly all over the world despite fears of multilateral formation having negative effects. By analyzing systematically the operation of regulation measures on international trade of major advanced ..
Jin Soo Yoo Date 1993.03.27
Trade disputeDownloadContentSummaryRegionalism has recently spread rapidly all over the world despite fears of multilateral formation having negative effects.
By analyzing systematically the operation of regulation measures on international trade of major advanced countries, in particular Japan, this study provides the information and response strategy for trade negotiations and suggests the Korean policy direction on the increased exports and smooth settlement of external trade disputes.
In this survey, we take a short look at each of the items listed above. Section II will look at the structure of Japanese trade. Section III will look at some of tariffs and levies. Section IV looks at non-tariff barriers such as quantitative import restrictions, voluntary export restraints, countervailing measures, anti-dumping tariffs and safeguards, service tariffs and intellectual property right. Section V looks at some of the structural trade barriers, focusing on the systematization and culture of enterprises corporate, price system and pattern of saving and investment and land use. Concluding remarks and policy implications are provided in Section VI.
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