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                                  股市看台韓
                 Sharma: Five decades of five percent growth.
                               April 25th, 2012
                                  08:00AM ET

Editor's Note: Throughout the week, Ruchir Sharma will be posting
thought-provoking questions with answers and explanations on CNN.com/GPS.  Be
sure to check out his excellent new book Breakout Nations: In Pursuit of the
Next Economic Miracles.


Explanation: South Korea and Taiwan are the gold medalists of global
competition, because their economies continued to grow at a rapid pace even
after they grew rich, when the scale and difficulty of the challenge becomes

夏瑪指出，比起中國大陸近30年來因經濟成長促使人均所得突破5000美元，台灣和南韓在
過去50年來的經濟成長造成人均所得超過2萬美元，可以說是更加令人印象深刻。

Now, however, the gold medalists appear to be parting ways: both have
succeeded mainly as manufacturing exporters, and South Korea is pushing

他說，台灣和南韓主要都是因為身為製造業出口國家而成功，且南韓不斷向前邁進。南韓
在2006年股市總值首度超越台灣，目前南韓股市總值約1000 billion USD，
台灣約700 billion USD。



South Korea's corporate giants have been much more visionary and ambitious,
becoming global leaders in industries as diverse as shipbuilding,
petrochemicals and construction, and creating the first major global brands
to rise up from an emerging market: Hyundai, Samsung and LG. Normally,
manufacturing stops growing as a share of the economy when a nation hits a
per capita income of $10,000, but South Korea is 15 years past that barrier
and manufacturing continues to expand as a share of GDP. This unique
manufacturing juggernaut can't continue forever, but it can continue for the
foreseeable future-5 to 10 years.

反觀南韓，夏瑪認為南韓大企業更具遠見和抱負，在造船、石化、建築等產業上成為全球
領袖，也開創現代汽車、三星電子、樂金電子等全球品牌。

他指出，依照過去經驗，當一個國家的人均所得到達1萬美元後，製造業成長會停滯，不
過，南韓人均所得突破1萬美元已15年，但南韓的製造業仍持續成長。

夏瑪認為，南韓這種獨特的強大力量無法永遠維持下去，但會繼續維持5至10年的優勢。

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※ 編輯: Seals           來自: 203.77.118.65        (05/23 15:58)

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