How to Deal With the Shriveled Economy: Needs the Positive Mind-Setting Policies

 The growing and competitive companies always want excellent, creative, hard-working workers, however, who accounts for a fraction of their population in any countries. They can be employed anywhere beyond their nationalities.

 

The richer one country becomes, the less they have to employ local laborers ironically. The company prefers underdeveloped countries’ workers with more proficient and less wages to local ones with self-assertive attitudes (maybe radical unions) and higher wages. If the workers ask for higher wage and organize unions, the foreign companies almost certainly withdraw a part or whole of their producing factories.  

 

In conclusion, whether it’s the advanced or middle or developing country, the national economy that shows higher unemployment rates, suffers from the decline of local demands and consumption. Such the evil cycle that higher unemployment incurs lower consumption is turning around diminishing economy to retreating one. Japanese economy has been trapped into these inactive local demands and lower employment for the last more than 20 years.  (A recent series of Abenomics’ measures could be said the ‘last’ trial to solve their long depression.) South Korea also just entered into the long ‘muddy’ downturn.

 

Most of Korean people do not understand some pieces of the current, ‘strange’ phenomena. Typically despite the export increase the local market is shrinking continually in amount. Big and small local companies directly piping to the global market become richer, however, local companies isolated from global demands face the more shriveled local demands.

 

In the growing stage, all members of the economic units were happy with the money which the exporting companies have trickled down. The government had been even worried about inflation because of the exporting money overflowed in its local market. Now South Korea’s inner market is being dried up.

 

Don’t compare it with America’s. The U.S. market is an exception, because the world’s liquidity is pouring into it and they publish the dollar if necessary.

 

South Korea has three types of competitive companies contributing to the local economy. Those are firstly, a handful of global big companies, secondly a few global medium and small ones, thirdly excellent inner ones best adapting to the local customers. I don’t know how much the rest takes up in South Korea’s economy. But clearly we could know the rest of the weaker companies are losing their occupying portion of the inner market, and moreover the figure of the rest increases in a considerable speed.

 

Another threat is that South Korea economy depends unduly on global big companies such as Samsung. As we have seen Nokia’s sink affected deeply to Finland’s economy, South Koreans are concerned about Samsung-dependent economy.

 

Despite these shades of South Korea economy, they have one common perception that they are in some serious crises, and each members are struggling with their own conditions at best if not knowing a clear picture and direction. It is thought that South Korea has still hope and maybe it’s the strength.

 

How to deal with the shriveled economy? I think we should ask for help not from the economists but from ‘warm-hearted and normal-thinking’ psychologists and spirituals. It seems that the operation of short-termed economic recipes cannot heal the current economic disease, and we need the basic ‘exercise and meditation’.//