9_12_Notes - Econ 4730 F2008 (9/12/2008) The economic...

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Econ 4730 F2008 (9/12/2008) The economic development of Japan has various effects on the development of other economies in East Asia. This needs to be discussed: (1) As a role model – a) Many terms of Western concepts in both Korea and China are influenced by the Japanese translation in kanji (Chinese characters), like economics ( keizai ) b) Various institutions and policy are selectively adopted in other East Asian economies, for example, the emphasis of large domestic firms and heavy industries in Korea; the maintenance of price stability, export surplus and plentiful of foreign exchange reserve in Taiwan. c) The use of the record of various Japanese firms like Toyota and Shin Japanese Steel as benchmarks for firms in neighboring economies. (2) As stimulant for international investment. Because of competitive pressure from Japan, some American firms procure products from neighboring economies, and as a defense measure, Japanese firms do the same, thus accelerating the industrialization of economies nearby. (3) As source of technology through investment joint ventures.
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This note was uploaded on 02/20/2009 for the course ECON 4730 taught by Professor Henrywan during the Fall '08 term at Cornell University (Engineering School).

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