Korea suffered an economic collapse back in 1996 where it saw it's GDP decline, due to the Asian financial crisis, by 38% to 1998. But Korea is suffered a major decline of it's GDP during the financial crisis. From 2007 to 2009 Korea saw it's GDP contract by around 19%. The latest contraction is large enough, in my opinion to warrant as an economic collapse, but Korea has recovered very quickly, unlike Japan, and it's GDP now surpasses it's high back in 2007. However, Korea is a very dependent on exports, and hence the global economy. It's TAPG is over 80%, so expect Korea to be hit hard by the next wave of the crisis.
Subscribe to:
Post Comments (Atom)
About Me
- Cogitans Iuvenis
- Seattle resident whose real name is Kevin Daniels. This blog covers the following topics, libertarian philosophy, realpolitik, western culture, history and the pursuit of truth from the perspective of a libertarian traditionalist.
No comments:
Post a Comment
Disagreements and countervailing views are welcome, however, comments will be deleted if:
-They have emoticons.
-If it is obvious that you have not read the post.
-Obvious Spam, and it takes me about a quarter second to determine if it is spam since you all write your comments the same way.