Essay on The US & Global Economic Trades

Essay on The US & Global Economic Trades

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The US & Global Economic Trades
Change is a constant. The ability to change at a rate greater than or equal to that constant helps separate successful companies and countries (Kotter, 2012). The US and South Korea serve as examples of countries that have underwent transformational changes the last 50 years. While the US continues to become more specialty oriented, South Korea has completely reinvented itself from the depths of economic futility ("South korea’s education," 2013).
While the US GDP has slowed, it remains a highly sought after trade partner (in part due to consumption and economic well-being). South Korea serves as an example of how economic integration can transform a country. They have done so using their abundance of natural resources to spurn GDP growth. This growth has been reinvested back into their social and economic systems, specifically education. Doing this has created a highly educated and talented pool of human capital available for a fraction of the cost versus other countries (Tai-Hwon, 2014). This increase in human capital has further increased foreign direct investment (FDI) facilitating continued growth of trade with other countries. All this transformation has occurred while starring down democratization of the country and continued tensions with North Korea.
There are a number of intricacies associated with establishing trade partners and trade boundaries. Formal institutions such as governments and world councils establish rules of the game in an effort to create stability. This analysis will evaluate the U.S. economic institution in relation to the rest of the world and compare its growth with another growing country, South Korea. The analysis will highlight important trade partners o...


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...eir social and economic development. Both the U.S. and South Korea represents success stories of countries that leveraged economic integration to accelerate its GDP growth rate. This has kept cost down, allowed for utilization of surplus products and foster more peaceful relationships with trading partners.



References
Gerber, J. (2011). International economics. (5th ed.). Upper Saddle River, NJ: Prentice
Hall.Kotter, J. (2012). Leading change. (1st ed.). Boston MA: Harvard Business Review.
South korea’s education system. (2013, October 26). The Economist, Retrieved from http://www.economist.com/news/leaders/21588373-there-are-perils-country-having-all-your-children-working-too-hard-one-big-exam
Tai-Hwon, K. (2014). Population change and development in korea. Asian Society, Retrieved from http://asiasociety.org/countries/population-change-and-development-korea

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