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Essay / fuck me - 1072
Economic growth has always been valued in East Asian countries. Sometimes, to quickly improve an economy, a government may need to exercise total control and not make political progress. Two economic strategies known as export promotion and liberalization strategy have been favored by East Asian countries. Both of these strategies aimed to bring about economic growth but were not the most politically progressive. Countries like South Korea and China have participated in these strategies. Both have faced different levels of democratization, labor rights, and political consolidation of power. Unfortunately, countries like South Korea and China have prioritized economic growth over political progress. South Korea was extremely involved in the Export Promotion Strategy (EPS), which consists of state protection of infant industries. State economic planning boards would choose which industry needed protection from outside competition. Tax breaks and credits were given to these favored industries, while tariffs were imposed on industries in other countries that were trying to compete in this sector (Lesson 5). South Korea would accumulate the fourth largest debt in 1985 because of BPA but this would not slow its growth (Lesson 5). The SPE leans more toward economic growth than political progress, as most liberal countries do not impose tariffs on competition. South Korea has been able to develop and that would be enough to stifle any political reform. There are other tactics besides EPS that other countries would actively adopt. Trade liberalization was part of China's economic plan that created immediate growth in the country. The country quickly adopted liberal trade policies, but it protected its emerging domestic markets during the 1980s. Middle of paper, entities that consolidate little power are unable to directly help businesses. By not waiting for the market to recover, the government is using extreme power to help businesses, which prioritizes economic growth over political progress. The economic progress of East Asian countries has been nothing short of incredible, and many are looking to continue. growth. Some of this economic growth has come at the expense of political progress, and this applies even to democratic states. Unfortunately, workers' rights have been ignored in order to increase productivity. Governments are investing heavily in different sectors, such as Chinese state-owned companies or South Korean chaebols. Power is largely consolidated, allowing governments to invest in these companies. Overall, economic progress is the product of sacrificed political progress.