Under similar initial condition of economic, social and cultural circumstances, Korea and Taiwan could expand their exports and achieve the high performance of economic growth in the process of export-oriented industrialization. In Korea, they let big...
Under similar initial condition of economic, social and cultural circumstances, Korea and Taiwan could expand their exports and achieve the high performance of economic growth in the process of export-oriented industrialization. In Korea, they let big firms primarily undertake the export, expecting the economies of scale, and faced the structural inequilibrium at the cost of economic growth. However, Taiwan let the small firms mainly undertake the export and made a rapid economic development without any cost of unequal structure.
After all, it is necessary to avoid the excessively artificial policy ignoring the market mechanism in excecuting trade policy.