Marxist Perspectives on South Korea in the Global Economy

In conceptualizations of capitalist reification and stages of capitalism from Marx and Uno, the third chapter introduces international dimension of capital and Korean development in regard to the state's control of Chaebols, foreign direct investment in China, and the international politics of...

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Bibliographic Details
Published in:Pacific affairs 2009, Vol.82 (3), p.540-542
Main Author: Shin, Kyoung-Ho
Format: Review
Language:English
Subjects:
Capitalism
Economic crisis
Economic development
Economic growth
Economic recovery
Global economy
Hegemony
International finance
Labor disputes
Marxian analysis
Marxism
South Korea
Transnationalism
World economy
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Summary:In conceptualizations of capitalist reification and stages of capitalism from Marx and Uno, the third chapter introduces international dimension of capital and Korean development in regard to the state's control of Chaebols, foreign direct investment in China, and the international politics of the Korean and Vietnam wars. The last section accounts for how groundless the arguments on Korea's economic recovery from the crisis are, and suggests that the deep dependence on a China-based, U-S. centered system of export production makes it more vulnerable because both Korean and Chinese export growth are inextricably tied up to the import capacity of the U.S. which has been weakened with larger deficits and falling U.S. dollar (U.S./global financial crisis since the Fall of 20081).
ISSN:0030-851X
1715-3379