Download or read book The Rise of China and the Rebound in Korea s Manufacturing Employment KIEP Working Paper 18 07 written by Kyong Hyun Koo and published by . This book was released on 2018-12-28 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Emergence of Manufacturing Related Services and Collaboration Between Korea and China Manufacturing Innovation Perspectives written by Sang Hyun Lee and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The emergence of manufacturing related services (MRS) coincides with the revaluation of manufacturing. We observed that manufacturing-focused countries overcame the financial crisis which broke out in 2007 with less difficulty than their service-focused counterparts. Manufacturing played a crucial role in navigating the economic problems such as unemployment, polarization and stagnant growth and so on. Moreover, this pattern of positive impacts from the manufacturing sector was observed from European countries trying to boost their economy. Germany, a manufacturing-driven economy, showed continuous economic growth, while service-driven economies in Greece and Austria experienced recession. Therefore, the importance of manufacturing was revaluated and commonly shared. However, the manufacturing sector we are revaluating now is not what it once was. Interestingly, manufacturers do not only manufacture any more. Instead, their activities increasingly involve services. According to a 2012 report from McKinsey, more than 34 percent of U.S. manufacturing employees are involved in service areas, or service-like activities. These service-like-activities include research and development, engineering, design, marketing and customer services which are sources of high value added and high quality jobs. In short, these changes allowed manufacturing to overcome financial crises and energize economies with trickle-down job creation, upgrades in the industrial value chain and new demand for professional services.Those changes are attributed to a paradigm shift in the manufacturing industry which is observed in various areas. First, new types of products have appeared in the market. These new products are described as smart, connected products (SCP) by Michael Porter (2014). SCP are differentiated from existing or previous products in that they consist of different components and work in different ways. As components, they are smart and connected to networks, and must be embedded in operating systems or user interfaces for optimal utilization. In addition, SCP are connected through either wired or wireless connections for auto-updating. SCP monitor, control and optimize themselves autonomously.The emergence of these types of products requires manufacturers to cope with a new environment with appropriate solutions. Manufacturers are expected to form new technology infrastructure, including product related hardware and software, cloud servers for remote control of the product and security protocols. Moreover, these new products are capital expenses, expected to result in relatively higher fixed costs and lower variable costs for manufacturers. Higher fixed costs result from the expenses induced in developing software, designing interfaces and acquiring other technological capital. In the end, manufacturers are expected to become providers of whole product systems and not simply makers of individual products. Therefore, core competencies of manufacturers will be determined by competitiveness at the system level.The second type of paradigm shift is found in the value creation. Previously, production activity itself was the main source of value in manufacturing. However, the main source of value now comes from services which are applied before and after production. To provide services as a source of value, manufacturing firms are now shifting production to smart products (in contrast to previously “dumb” products) through which services can be integrated.In summation, products, competitiveness and value creation are rapidly evolving in the manufacturing sector. However, manufacturing firms are not able to deal with this situation by sticking only to production process. Convergence with various services is necessary for the firms effectively respond to a changing environment. This necessitates that manufacturers utilize MRS.

Download or read book Total Factor Productivity Growth in Korean Industry and Its Relationship with Export Growth written by Sang-yirl Nam and published by 대외경제정책연구원. This book was released on 1999 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Advanced Manufacturing and China s Future for Jobs written by Dieter Ernst and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how China's push into advanced manufacturing and services through robots and other new disruptive technologies might affect the country's future for jobs. After decades of rapid-fire growth, China's comparative advantage in manufacturing and the extraordinary size of its economy explain why China has not followed Dani Rodrik's pattern of "premature de-industrialization". However, China now has reached a level of development where catching up through an investment-driven "Global Factory" model is no longer sufficient to create long-term economic growth and prosperity. Chinese firms now need to adopt, absorb and develop advanced manufacturing technologies. At the same time, severe headwinds are constraining China's growth. International trade, a primary source of China's rise, has fallen to its lowest level since 2009, and keeps languishing. Since the turn of the century, a declining labor force, rising wages, and skill bottlenecks are eroding China's international competitiveness. To break out of this growth impasse, China's leadership has decided to leapfrog into advanced manufacturing and services. Two policy initiatives are the expression of that ambition: the China Manufacturing 2025 (MIC 2025) Plan, and China's Internet Plus (IP) Plan both seek to promote innovation-driven development through robots, 3D printing, Big Data, and the integration of manufacturing and services through the mobile Internet. The chapter examines how these two major policy initiatives might affect China's Future for Jobs. While China has improved its position and capabilities in advanced manufacturing (especially in robots), the country still has a long way to go to catch up with global industry leaders. A critical weakness of both the MIC 2025 and the IP plans is an almost exclusive focus on technology, and a failure to collect data on possible impacts of advanced manufacturing and services on jobs, skills, income and inequality. To reduce this knowledge gap, the chapter reviews newly available data for China on unemployment, income inequality, skill requirements, and the development and quality of service jobs. These data show that China still has a long way to go to create the necessary skills (especially for soft and vocational skills), as well as enough well-paying knowledge-intensive service jobs. Forging ahead in advanced manufacturing thus will face major hurdles. If China fails to upgrade the quality of the new jobs that are being created in its service sector, this might slow down the growth of household incomes and consumption. As China's push into advanced manufacturing coincides with the "new normal" of a lengthy industrial slowdown, any such slowdown in income might eventually begin to constrain the service sector too, as the profit squeeze in manufacturing companies and declining income of workers might lead to a cut in investment in services and in their consumption. In order to avoid this "worst case scenario", it is necessary that both the MIC 2025 and the IP Plans are based on realistic projections of employment and other labor market impacts

Download or read book From Catching Up to Forging Ahead in Advanced Manufacturing reflections on China s Future of Jobs written by Dieter Ernst and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores what we know about possible employment effects of the 10-year plan, issued by the State Council on May 19, 2015, entitled Made in China 2025. MIC2025 was designed to address China's emerging labor shortage challenge. To achieve this goal, the plan seeks to boost labor productivity through an increased use of robots and through network-based upgrading of the entire industrial value chain and related services. How might the projected increase in labor productivity affect the creation and quality of jobs in China? Will China's push into advanced manufacturing now move the country's manufacturing employment closer to the pattern of "employment de-industrialization" observed in the US and other industrialized countries? How China will cope with the advanced manufacturing challenge for employment will have major implications not only for the US and other industrialized countries, but also for emerging economies and, most importantly for the majority of developing countries that are still struggling as latecomers to labor-intensive industrial manufacturing. The paper lays out objectives of the MIC 2025 plan and highlights a failure of Chinese policy makers to take into account employment effects and other labor market issues when they design their grand visions of industrial policy. The paper finds that until 2014, manufacturing has acted as an employment absorber in China. However new data on unemployment, labor force participation and income inequality signal that China may now be moving towards an "employment de-industrialization" pattern, unless enough knowledge-intensive service jobs will be created in China's growing information economy. The paper concludes with implications for policy and further research

Download or read book Korean Exports and the Role of China written by Sunoong Hwang and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade has played a crucial role in the rapid growth of Korea over the last few decades. The share of Korea's real exports in its real GDP increased from 4.2% to 49.3% between 1970 and 2010. Therefore, it is very important for Korea to gather empirical information about the determinants of its exports, which is the goal of this article. There has been a substantial amount of research on the effects of global business cycles, the relative prices of exported goods, and the exchange rate of the Korean won on Korea's exports.1) This article complements the existing literature by determining the role of China in influencing the exports of Korean industries. Among the structural changes in the international trade environment that the Korean economy has faced in recent years, the most important are China's rapid growth and its integration into the global economy. On the one hand, China's share of Korean exports has risen rapidly since 1990s, and now the Chinese market accounts for the largest share of Korean exports among its trading partners. On the other hand, the rise of China as the world's major supplier of cheap manufactured good has put increased competitive pressure on Korea industries. As a result, changes in China's exports and consumption expenditures may have a significant effect on Korean exports. Of note is that the exact magnitude of the effects is likely to be different between industries, since the degree of dependence on China as an export market and the degree of competitive pressure imposed by China are different across industries.This article provides industry-level evidence on the long-run effects of China's exports and consumption expenditures on Korean exports, using the fully-modified generalized method of moments (FM-GMM) proposed by Kitamura and Phillips (1997).2) The estimation results suggest that the effect of China's exports is quite different across industries, with the mean effect statistically indistinguishable from zero. In contrast, China's consumption expenditure has a significant and positive effect on Korean exports in most industries. Interestingly, in both cases, the magnitude of the effect is much larger in heavy manufacturing, capital and intermediate goods industries than in light manufacturing and consumption goods industries, reflecting the characteristics of vertical production linkages between China and Korea.The remainder of this article is structured as follows. Section 2 provides a descriptive discussion of the characteristics of China's exports and domestic consumption expenditures as well as Korea's exports to China. Section 3 performs an econometric analysis of the role of China in Korean exports. Section 4 concludes the article.

Download or read book China s Manufacturing Development and Its Implications for Korea written by Hyun-Tai Lee and published by . This book was released on 2018 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since 2015, the Chinese government has been strongly promoting its "Made in China 2025" initiative, which aims to accelerate the transformation of China from a "big manufacturing country" into a "world manufacturing power" by boosting manufacturing competitiveness through innovation and nurturing high-tech manufacturing industries. China's "Made in China 2025" strategy is both a threat and opportunity for Korea. This study aims to analyze the development status of Chinese manufacturing industries and the policy of "Made in China 2025," and to provide implications and countermeasures.

Download or read book The Effects of Exports on Employment in Korean Manufacturing written by Unjung Whang and published by . This book was released on 2018 with total page 4 pages. Available in PDF, EPUB and Kindle. Book excerpt: This article begins with the question of what is the main reason why export growth does not lead to sufficient job creation, and examines the relationship between exports and employment from various perspectives. We applied the growth accounting method to decompose the changes in employment induced by exports into the scale and composition effects on employment, so that it captures the employment effect caused by the changes in the composition of export products. From this analysis, it can be seen that the reduction in the employment effect of exports is highly correlated with the changes in the composition of the export products toward less labor-intensive. From the empirical analysis using industry-level data, it is confirmed that the higher the capital intensity, the lower the export elasticity of employment. Another interesting founding is that the export elasticity of employment is higher when the export proportion of SMEs (or final consumption goods) is larger.

Download or read book Jobless Growth in the Manufacturing Industry Decoupling Sectoral Output and Employment in the United States and South Korea written by Eunsun Gil and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jobless growth in the South Korean manufacturing industry has been observed since 2015. Even as total value added in the manufacturing sector is continuously growing, manufacturing employment levels are decreasing; this pattern first emerged in the 1990s, lasting for a decade. The decoupling of output and employment in the manufacturing industry is atypical compared to the commonly stylized facts showing that both employment and output grow together in the long run and decline together during recessions at the aggregate level of an economy. This article analyzes which subsectors account for the jobless growth pattern in the South Korean manufacturing industry. Importantly, a recent cyclical downturn in automotive and shipbuilding manufacturing cannot explain the negative correlation between sectoral output and employment. Instead, the jobless growth pattern is observed within the computers and electronics manufacturing subsector, and it offsets the other sectors' positive correlation between output and employment. I classify the jobless growth patterns of the manufacturing industry by comparing the United States and South Korea to address political suggestions. If the jobless growth in the South Korea followed the trace of the United States, then manufacturing employment would not easily increase despite an export revival or an output recovery in future.

Download or read book Asian Economic Integration in an Era of Global Uncertainty written by Shiro Armstrong and published by ANU Press. This book was released on 2018-01-08 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Pacific Trade and Development (PAFTAD) conference series has been at the forefront of analysing challenges facing the economies of East Asia and the Pacific since its first meeting in Tokyo in January 1968. The 38th PAFTAD conference met at a key time to consider international economic integration. Earlier in the year, the people of the United Kingdom voted to leave the European Union and the United States elected Donald Trump as their next president on the back of an inward-looking ‘America First’ promise. Brexit and President Trump represent a growing, and worrying, trend towards protectionism in the North Atlantic countries that have led the process of globalisation since the end of the Second World War. The chapters in the volume describe the state of play in Asian economic integration but, more importantly, look forward to the region’s future, and the role it might play in defending the global system that has underwritten its historic rise. Asia has the potential to stand as a bulwark against the dual threats of North Atlantic protectionism and slowing trade growth, but collective leadership will be needed regionally and difficult domestic reforms will be required in each country.

Download or read book Famine in North Korea written by Stephan Haggard and published by Columbia University Press. This book was released on 2007 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In their carefully researched book, Stephan Haggard and Marcus Noland present the most comprehensive account of the famine to date, examining not only the origins and aftermath of the crisis but also the regime's response to outside aid and the effect of its current policies on the country's economic future. Their study begins by considering the root causes of the famine, weighing the effects of the decline in the availability of food against its poor distribution. Then it takes a close look at the aid effort, addressing the difficulty of monitoring assistance within the country, and concludes with an analysis of current economic reforms and strategies of engagement."--BOOK JACKET.

Download or read book Postcrisis Growth and Development written by Shahrokh Fardoust and published by World Bank Publications. This book was released on 2010-11-09 with total page 588 pages. Available in PDF, EPUB and Kindle. Book excerpt: Post-crisis Growth and Development lays the groundwork for setting development priorities and advances the discussion among the G20, and non-G20 countries on development policy in infrastructure, trade, food security, financial inclusion, and Millennium Development Goals (MDGs), as they relate to strong, sustainable, and balanced global growth.

Download or read book The Changing Nature of Asian Latin American Economic Relations written by German King and published by UN. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: La 4e de couverture indique : "The swift expansion of developing Asia is probably the most significant structural change in the world economy of the twenty-first century. Latin America, and in particular South America, have strongly benefited from developing Asia's surge. China has become one of the region's main trade partners. Despite their benefits, strengthened trans-Pacific economic relations have also become a cause for concern in Latin America, due to major imbalances of different kinds. The purpose of this book is twofold. On the one hand, it aims to document the growing investment and trade relations between Latin America and Asia, as well as some of their imbalances. On the other hand, it provides several examples on how to upgrade trans-Pacific economic relations."

Download or read book The North Korean Economy written by Catherine Cavanaugh and published by Routledge. This book was released on 2017-09-04 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: Viewed from afar, North Korea may appear bizarre, or positively irrational. But as Nicholas Eberstadt demonstrates in this meticulously researched volume, there is a grim coherence to North Korea's political economy, and a ruthless logic undergirding it--one that unreservedly subordinates economic welfare to augmentation of political power. Thus, paradoxically, even as official policies and practices consign the DPRK economy to a perilous realm between crisis and catastrophe, the country's leadership maintains unchallenged domestic control and has actually managed to increase its international influence.Through painstaking collection of hard-to-uncover data and careful analysis, Eberstadt provides a quantitative tableau of North Korea's terrible failure in its economic race against South Korea; its stubborn adherence to policies all but guaranteed to stifle growth and undermine economic performance; and the longstanding official effort to ignore, or mitigate, pressures for economic reform.Eberstadt is skeptical of optimistic accounts from South Korea and elsewhere suggesting that the North Korean leadership is interested in resolving the current nuclear impasse, and getting on with the business of reform and development. So long as Pyongyang's rulers entertain the ambition of reunifying the Korean peninsula on its own terms, Eberstadt argues, economic reforms worthy of the name will be subversive of state authority--and vigilantly resisted by Pyongyang's rulers. This authoritative volume has received widespread attention from Asian specialists, well as those concerned with nuclear proliferation and world peace, and international relations professionals in general.

Download or read book Fleshing Out Skull Bones written by Kris Millegan and published by Trine Day. This book was released on 2004-10-01 with total page 724 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chronicle of espionage, drug smuggling, and elitism in Yale University's Skull & Bones society offers rare glimpses into this secret world with previously unpublished documents, photographs, and articles that delve into issues such as racism, financial ties to the Nazi party, and illegal corporate dealings. Contributors include Anthony Sutton, author of America's Secret Establishment; Dr. Ralph Bunch, professor emeritus of political science at Portland State University; Webster Griffin Tarpley and Anton Chaitkin, authors and historians. A complete list of members, including George Bush, George W. Bush, and John F. Kerry, and reprints of rare magazine articles are included.

Download or read book Management and Mitigation of Acid Mine Drainage in South Africa written by Mujuru, Munyaradzi and published by Africa Institute of South Africa. This book was released on 2017-02-03 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa is facing the increasing challenge of acid mine drainage (AMD) whose genesis is the country’s mining history, which paid limited attention to post-mining mine site management. In mineral resource-rich Africa, this has emerged as one of the most daunting challenges of our time. South Africa has been bold in its approach to mitigating this problem, although the challenge is multi-faceted. On a positive note, substantial research has been conducted to confront the challenge. However, thus far, the research has been largely fragmented. This book builds on the work that has been done, but also provides a refreshing multi-disciplinary approach that is useful in addressing the AMD challenges that South Africa and the continent face. Whilst addressing the problem as a scientific and engineering challenge, the book also exposes the economic, policy and legal challenges involved in addressing the problem. The book concludes, quite uniquely, that AMD is an opportunity that can be used by South Africa and Africa to solve problems, such as acute water shortage, as well as mineral recovery operations.

Download or read book Economic and Social Survey of Asia and the Pacific 2017 written by United Nations Publications and published by UN. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economic and Social Survey of Asia and the Pacific 2017 presents the latest macroeconomic trends, identifies emerging risks and challenges, and takes stock of fiscal, monetary and structural policy developments in the region, providing recommendations for policymakers and other relevant stakeholders. The report shows that, while the recent expansion of Asia-Pacific countries has been steady, it is modest compared to recent historical trends amid prolonged weak external demand, rising trade protectionism and heightened global uncertainty. Decades of rapid economic growth came at the expense of rising inequalities and environmental degradation. Addressing such economic, social and environmental challenges in a coherent and decisive manner will be critical to achieve the Sustainable Development Goals. In view of these challenges, the Survey 2017 highlights the importance, and transmission mechanisms, of better governance to achieve effective fiscal management and deliver impactful domestic structural reforms.