How does China's slow economic growth affect Korea and Japan?
Haebom
The economic slowdown in China is likely to have a major impact on Japan as well. Since China and Japan are the two largest trading partners, the economic situation in China has a direct impact on East Asia as a whole.
China's economic slowdown
China's economic growth is slowing, largely due to problems with consumer prices, the real estate market, and bad lending, a situation that is reminiscent of Japan's economic crisis in the 1990s.
Affected areas
Exports: If Japan's exports to China decrease, Japan's GDP also decreases.
Geopolitical tensions: The technology war and geopolitical tensions between China and Western countries are also risks for Japanese companies.
Intellectual Property Rights: Japanese companies in China are at risk of intellectual property infringement.
Korea/Japan's response measures
Diversification: We need to find other trading partners that are not dependent on China.
Technology Protection: Companies should better protect their intellectual property rights in China.
Economic policy: The government must prepare measures to counter China's economic slowdown.
In fact, in the case of Japan, there has been a recent movement to escape from the low-growth swamp, but in the case of Korea, it is regrettable that this is not yet visible. In the end, the basic industries need to do well, but in Korea, the trend is to move from semiconductors and displays to secondary batteries... I feel even stronger that we need to find new sources of income. Superconductors... ~_~
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