Monday, October 26, 2009
Stimulus fuels South Korea recovery
This article talks about how the Korean economy has increased in its fastest pace since the last seven years. The GDP has gotten better for the first time in four quarters. Private consumption and facility also helped in economic growth. Private spending, exports and capital investment all rose as well. There has been an increase in Asian economies recovery during the current global recovery.
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2 comments:
I think it's pretty clear to see why a country like South Korea is thriving at the moment. First, consumption has increased in a society that has typically been characterized by thriftiness and savings. Additionally, the country has probably been one of the biggest benefactors of the cash-for-clunkers program. As the article highlights, the Korean automobile industry is prospering and it is mostly because they are taking advantage of the US's efforts towards economic recovery.
Well put Brandon - It is pretty obvious why the majority of Asian countries, especially South Korea in this case have been thriving as of late. With continued strength in exporting as well as an aggressive government fiscal spending policy and rate cuts, South Korea should continue to experience growth in the future. With South Korea's better than expected growth numbers, this is a strong indication that Asian countries in general will be leading the global recovery.
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