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Koreas Dynamic Economic Partnership with a Rising China: Time for Change
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- Authors
- Issue Date
- 2012-12
- Citation
- Journal of International and Area Studies, Vol.19 No.2, pp. 63-75
- Keywords
- Korea ; China ; Bilateral Economic Relations ; Trade ; Investment ; East Asia
- Abstract
- During the last 20 years, Korea and China have rebuilt their economic relations. Korea has benefited from Chinas rise through vertical cooperation in the East Asian manufacturing network. The
complementary nature of vertical cooperation has reduced direct competition or threats from China.
However, after the global financial crisis of 2008, the foundation of Korea-China cooperation itself
started to change. China now needs a new model of development, one that is less dependent on external
markets and leads to a quicker industrial upgradation. Chinas strategic shift will dismantle the
current Korea-China bilateral economic relations. As Chinas industrial supply chains become more
value added, the former vertical cooperation between Korea and China will be transformed into a
parallel competition.
- ISSN
- 1226-8550
- Language
- English
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