Asia - rapid economic growth in recent decades

The Asia economic news has often headed headlines in the business world. Furthermore, the continent has experienced a spell of rapid economic growth in recent decades. As a result, this has lifted the standard of living of most Asians from extreme poverty. On the other hand, the continent still houses two-thirds of the world’s poor.

The japan economy growth.

Japan, for instance, has experienced a lucrative growth due to its enormous involvement in the technological world. Also, the country’s governing system has reformed Japan's economy into a market-oriented structure.

Also, Japan has transformed into a modernized state. For instance, Japan has productively invested in both railways and roads, thus improving the transport sector of the country. Consequently, this has made the country more accessible, hence making the japan economy news an interesting bulletin for investors.

However, not all is well for Japan since the country’spopulation is plumping at an alarming rate. As a result, this has reduced the countries workforce to a subordinate percentage. A potential solution would be to encourage the country to give birth to a new generation teeming with life. To aid this, the country has also inspired immigration, thus budding the country’s workforce.

South Korea Economy Growth

South Korea, on the other hand, is a country that has exceeded the prospects of many. For instance, the country’s economy has successfully flourished despite being a country faced by endless political tension. Unlike most countries in the east, South Korea has sustained a peaceful environment. Consequently, this has enabled the country to trade easily with others. Also, the peace in South Korea has exposed the country to investors who are willing to spend tons of money with the hopes of getting surplus returns.

On the other hand, South Korea is underperforming in value-added activities globally. The country’s value chains in the assembly, electronics, and automobiles sectors are below the average value. This, therefore, limits South Korea’s performance in the global market. To improve, then much effort is needed to get improved digits out of the country’s value chains. For instance, the state should move towards an open market economy that strengthens both human capital and innovative capacities.

Lastly, the country has a terrible system that mostly tends to favour men while diminishing the work of women. As a result, this tends to reduce the country’s workforce to almost half.

Conclusion

The above trends have transformed Asia into a prime economic continent in an elusive economy. As a result, this has enabled the continent to match most of the economic countries in both Europe and America. However, all these might go down the drain since the continent is mostly rifled by mismanaged, discrimination, and endless political tension between the continent and the globe.

Consequently, these have led to a backdrop in the continent’s economy compared to what is expected of the continent. Nonetheless, if the following matters were to be resolved, the continent would be more pinnacle at dominating the global economy and unlocking its full potential.

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