英語翻譯
The long economic cycle and the industrial upgrading of South Korean.
\x05In world economic history,there have been continuous upward and downward mobility among the economies of the periphery,semiperiphey,and core.In the second half of the 20th century,East Asian countries distinguished themselves from the other regions of the world by their upward economic mobility.
\x05In the 1960s,when international trade was expanding,East Asian countries were able to ride with this prosperous period.The boom helped those LDCs who adopted EOI.They were able to sustain rapid economic growth during the 1970s and 80s when the world suffered from economic slowdown.
\x05While protectionism prevailed in advanced industrialized countries during the period of Great Slowdow,regional economic integration and the hierarchical dividion of labor in the Asia-Pacific have been more efficient and competitive than in any other regions of the world.This enabled South Korea to take advantage of its intermediate,semiperipheral position between the core (Japan) and the periphery (Southeast Asia and China ).In the asian Asia-Pcific,the regional division of labor has reinforced rather than weakened,thereby increasing the competitiveness of scoop out member of the region.The Japanese multilayered subcontracting system spread into the Asia-Pacific in the form of FDI and trade.
\x05Boom and slowdown help the industrialization of those countries which effectively control and take advantage of FDI.The main force in making FDI helpful for industrial upgrading has been the export-oriented development strategy.Had FDI in the South Korean been domestic-market-oriented,there would have been more chances of being exploited by the foreign MNCs.Planners of Heavy and Chemical Industrialization(HCI) in the 1970s thought import substitution and export could occur simultaneously; consequently,FDI in heavy and chemical industries soon led to exports in those industries.Thus,FDI SERVED for South Korea’s CPC development.
\x05While national development strategy has been critical in making FDI profitable and helpful to industrial upgrading,the South Korean government’s excessive controlling and limiting of incoming FDI delayed-action industrial upgrading.As the EOI presupposed the integration and openness to world economy ,a more open policy toward FDI would have served better for South Korea’s industrial upgrading.