The Competitive World's Growth Of A Business

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INTRODUCTION In the competitive world, growth of a business is based on its ability to generate revenue not just from the local market but also searching for opportunities in the international market. The similar can be magnified for a country, where some economies as whole are credit to International demand till a great extent. In case of few countries, namely Japan and South Korea, that initially functioned as Protectionist, looking after the domestic market, open their markets after WWII and adapted export driven attitude, since being endogenous can’t work well in small populated countries. South Korea proved to have a good model of how a low income country became high income country. When countries around the world where looking for Import Substitutes Korea took up the opportunity and created attractive environment for foreign investors. Japan, who were already leading the export market, has to be credited till a great extent for opening Korean market. The Japanese government `off shored ' for labour-intensive industries to more to Korea and continue to export to third countries, further Japan also allowed the Koreans to develop their own links with the US market at the time when they started approaching new markets (RJ Castley, 1995) With very similar functions and practices going on the both country few indicators like GDP Growth Rate, Export (percent of GDP) and Inflation will help point out the similarity and difference in last few years: GDP GROWTH (%) Figure 1
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