In the Asian Rim countries such as Korea, Japan, China, Taiwan, and Singapore, national policies have been guided by the governments’ vision of using technology for economic development. Korea, Japan and Taiwan all propelled economic growth by protecting infant industries, intervening in markets and guiding the development of specific technology-intensive industries. They tend to be technonationalistic and are yearning for global recognition. Technological progress has also been regarded as a means for being independent from Western countries.
Government officials in Korea seem to have thought that dependence on market forces only might result in hampering the developing process of home-grown companies. The Korean government, thus, protected the domestic market during the period of rapid industrialization. I have discussed the limits of export-dependent economies on several occasions. Why has the Korean power elite pursued its export-dependent economy in the first place? Boosting domestic consumption has hardly been on their agenda.
The Korean government has exerted its efforts to enhance technological prowess in an attempt to achieve not only economic goal but also political objective...
(A detailed analysis on this topic won’t be shared due to the proprietary nature of the content.)
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