economic systems of South Korea and Japan

South Korea and Japan which are two emerging countries have had an extremely close economic relationship between them that dates back from the ancient times of the countries to the present. As a result of this, the countries have experienced similar patterns in their economic growth and development though there have been disparate differences that have been brought about by several factors Smith, 1997()

It is natural to do a comparison of two emerging countries in order to find out similarities and differences in their major characteristics that may have led to the growth of one country being mirrored in another Rosser & Rosser, 2004.

Both countries have emerged from a war period which devastated their economy greatly and ruined their infrastructure completely. However, they have both climbed out of these periods and managed to succeed in building global economies by taking advantage...
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