Saturday, May 28, 2011

Korea and the TPP

As I have been following the TPP controversy, I had failed to notice another piece of the puzzle: Korea.


According to the JA Shimbun, one of the unspoken the proponents of the TPP want the agreement so badly is that they fear Japan is being overtaken economically by Korea.

In 1960, the place was essentially a third world country with a 70 percent illiteracy rate. On average it has seen 7 percent annual growth since then, and it now has an individual GDP of 20,000 dollars, right in the bracket of other developed countries.

They are also threatening Japan in the super-competitive world of electronics products and automobiles. People in the financial world want to compete with Korea's FTA activities by signing Japan's own FTAs, or that is the JA position.

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