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분야
docI. Introduction
II. Recent Situation of The Korean Economy
III. Examples of Past Double-dip Recession
1. The United States
A. Beginning of the recession
B. Recovery from the recession
C. Influence on Banks and Politic
① Banks
② Political fallout
2. Japan
A. Beginning of the recession
B. Lost decade
C. From the lost decade
IV. Comparative Analysis of Data
V. Conclusion
- Reference
The Korea international trade had suffered much more than the Korean Financial Crisis with the IMF(1997 and 1998) than they had this year. With the constantly fluctuating prices and values for raw materials, exchange rates and the global financial crisis, it was an extremely difficult situation. A sudden rise in exchange rates cause losses in exchange rate profits. However, recently, the economic status of Korea has been recovering slowly and has also shown possibilities to continue.
The stabilization of such financial markets, aided the object-economy into stabilization as well. On the last quarter of 2008 which recorded a drop in GDP growth turned back to a positive growth of 0.1% on the first quarter of this year. Composite Leading Indicator and index of mining and manufacturing industrial product has shown to be rising again for the past three months.
However, optimism for the recovery of the economic status of Korea has to be wisely observed more careful due to unpredictable outside influences. With respect to the domestic terms, consumption and investment will take some time to recover and foreign influences of economy would not aid in the process.
GDP growth rate has proven to be the third worst case(after the economic slump in 1980 and 1998) in the history of Korea with the record of -2.3%.
The rise in unemployment, decrease in consumption, drop in property prices and depressed consumer sentiment, GDP growth rate is expected to drop down to -2.7%.
Such inactivity in consumption, with the fact that exports had dropped compared to the past due to the global financial crisis, increase the burden to the economy of Korea.
- http://en.wikipedia.org/wiki/Early_1980s_recession
- http://en.wikipedia.org/wiki/Double-dip_recession#W-shaped_recession
- http://online.wsj.com/article/SB123419281562063867.html?mod=djemalertNEWS
- http://www.time.com/time/business/article/0,8599,1867847,00.html
- http://www.nytimes.com/2009/02/22/business/worldbusiness/22japan.html?_r=1&fta=y
-http://kr.newspeg.com/%20Korea%E2%80%99s-Trade-Dependency-Growing-%20-11797389.htmll
- http://www.koreatimes.co.kr/www/news/nation/2008/06/123_25922.html
-http://www.koreatimes.co.kr/www/news/biz/2009/10/123_21442.html
-http://www.koreatimes.co.kr/www/news/biz/2009/07/123_48814.html
-http://www.koreatimes.co.kr/www/news/biz/2009/07/123_48592.html
-http://www.koreatimes.co.kr/www/news/biz/2009/09/123_51439.html
-http://en.wikipedia.org/wiki/Early_1980s_recession
