[lbo-talk] Harvey

KJ kjinkhoo at gmail.com
Wed Dec 7 20:59:53 PST 2005


On 12/8/05, Doug Henwood <dhenwood at panix.com> wrote:
> There were elements of import substitution about the Japanese &
> Korean strategies, but the main emphasis was on exports, no?

thanks for looking up the debt tables; i should do the checking before spouting off next time.

the emphasis on exports was the means the state used to discipline capital, rather than letting them run riot under an i-s regime. but exports used to be a small proportion of gdp (and are still a relatively small proportion when compared to the se asian economies), the local market was protected and, to this day, it's hard for imports to break into the korean market. even the recent burgeoning of the korean culture industry -- it's a curiosity that korean soaps have taken the e asian market by storm -- was as a reaction to the attempt to crack that korean market. again, exports as the sieve, but very much directed to the home market as well.

kj



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