9_24_Notes - power al wasted so that with the subsidy of the Bank of Japan and the assistance of the Japanese general trading companies the owner

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Econ 4730 F2008 (9/22/2008) So far the discussion in this class, following variousw chaptreres inwan (2004) can be inter-related with each other in the following manner. The key issue here is the process of product cycle, or industry migration. In chapter 4 of Wan (2004), Kojima discussed the demographic forces operating on Japan, in the 1960s and early 1970s. The effect of rising household income made Japanese families to make the quality-quantity choice for their children, so fewer children were born, heading more likely for longer education, than an early employment at dead-end jobs for the traditional industries, while the cause for higher income was the rising productivity, and hence, ability to compete for labor input, on the part of the Japanese modern industries. The net result was every Japanese high school graduates got seven job offers. Labor shortage left the non-labor inputs (like management) high and dry, with their earning
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Unformatted text preview: power al wasted, so that with the subsidy of the Bank of Japan and the assistance of the Japanese general trading companies , the owner of firms in traditional industries became ready to invest abroad. The question became where to go? Since Korea and Taiwan were under Japanese administration before the end of World War II, many people their could speak Japanese. They and the would-be investors from Japan also know what is expected from each other in a joint venture. Since the historic relationships between Japan on one side and Korea 2 1 3 4 The process 1 good, 1 country The process n goods, 1 country The process n goods, n countries The context Econ 4730 F2008 (9/22/2008) and Taiwan on the other side are somewhat different for Korea, as compared against Taiwan., it took longer for Korea to normalize the economic relations with Japan than for Taiwan, but once started, Korea caught up with Taiwan fast....
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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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9_24_Notes - power al wasted so that with the subsidy of the Bank of Japan and the assistance of the Japanese general trading companies the owner

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