Extremely high labor productivity
This was one of the major booms for both Japan and South Korea. In Japan, the military personnel and the people who were employed by the army were the main forces which provided Japan with the most disciplined workforce ever created before. This lead to high labor productivity. The same applies to South Korea in the textile industry, during the major period of economic expansion in South Korea many industries and factories hired county girls that lived in the dormitory and worked for low wages and that boost the economic progress in South Korea. Therefore both countries really utilization human labor to enhance productivity rate.
High saving rate
Both of the countries adopted a high saving rate system since they were still fragile countries. The high saving rate which the states chose boosted and enhance a high economic and capital accumulation as compared to other nations. This gave the government more ability to spend on infrastructure.
A culture programmed to succeed.
A lot of emphases was based on the national character and the culture of the people of the countries mentioned above that were majorly aimed at hard work to enable the countries to achieve their economic stability after the world war ii.
How Japan and South Korea are influential compared to China, India, Vietnam
Choi (2013), argued that from a political point of view, about the above countries, China stands to be the most influential politically. China is one of the permanent and most prominent members of the united nation and is having so much political voice as compared to Japan, South Korea, India and also Vietnam. This is even seen as prominent countries like the USA takes China as its political opponent but not the other countries.
Horowitz (2016), also emphasizes that in the comparison of the economy of China, South Korea, and Japan, it's clear that China stands a chance to have a better and stable economy than the other countries. Even due to the facts that the economy of Japan and South Korea are impressive considering the fact they have a small population and also the lack of resources, the economic status of China still both dwarfs both of the countries economic point of view.
Another point to emphasize on from the economical point of view is that is that China has the second largest economy in the world. And even though Japan seems to be more attractive, China has surpassed both the countries with a much bigger market and a desirable economy. This attracts most industries in the world to invest in, and the same applies to most of the world's markets which consider the counties products to be one of the world's best.
Horowitz (2016), also added that regarding a military comparison of the three countries, Japan remains to be the outstanding one. This is because the Japan Self Defense Force is ranked among the most and more equipped Asian countries in the world and more so regarding equipment. Much weight is then given to the Japans deployment in and also protection of the countries southwestern island more so in concern towards the Chinas military might. However, China also stands as the peoples liberation army is also so much engaged in modernization program and more capable air fighter crafts and improved armed vehicles.
The role of Japan and South Korea in the global economy? Have they lost significance?
Goo& Lee (2014), also added that Japan and South Korea has a greater role in the general global economy. This mainly comes into importance when the Japan and South Korea normalized the diplomatic relations in 1965. The two countries come into agreement and therefore signed a treaty on the essential and proper relationship between Japan and South Korea as well as the agreement concerning the settlement of claims, fisheries, and also the legal status which has significantly influenced the global economy positively.
The relationship between Japan and South Korea compared to China and the dangers which may loom in the future.
ZHENG (2011), also emphasizes that the relationship between Japan, South Korea, and China has been characterized by trade, war, cultural exchange and also administrative contact all of which underlie the relationship even up to date. In accordance that proper treaty will continue to be signed between the countries and that relationships will be managed through good political, economic, social and also military relations then there seems to be no looming danger in the future.
Choi, Y. (2013). The Optimal Path of a China-Japan-Korea FTA: Multilateral Path or Sequential Path?. Pacific Focus, 28(3), 435-458. http://dx.doi.org/10.1111/pafo.12018
Goo, Y., & Lee, S. (2014). Military Alliances and Reality of Regional Integration: Japan, South Korea, the US vs. China, North Korea. Journal Of Economic Integration, 29(2), 329-342. http://dx.doi.org/10.11130/jei.2014.29.2.329
Horowitz, S. (2016). South Korea and Japan since World War II: Between Ideological Discord and Pragmatic Cooperation. Pacific Focus, 31(1), 79-99. http://dx.doi.org/10.1111/pafo.12066
Horowitz, S. (2016). Psychoanalysis in Asia: China, India, Japan, South Korea and Taiwan. Psychodynamic Practice, 21(2), 200-203. http://dx.doi.org/10.1080/14753634.2015.1016648
Pepinsky, T. (2013). Book Review: Paths to Development in Asia: South Korea, Vietnam, China, and Indonesia VuTuong, Paths to Development in Asia: South Korea, Vietnam, China, and Indonesia, Cambridge University Press, New York, xvii + 294 pp. South East Asia Research, 21(2), 355-359. http://dx.doi.org/10.5367/sear.2013.0155
ZHENG, T. (2011). Karaoke Bar Hostesses and Japan-Korea Wave in Postsocialist China: Fashion, Cosmopolitanism and Globalization. City & Society, 23(1), 42-65. http://dx.doi.org/10.1111/j.1548-744x.2011.01048.x
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