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and helped eric one from the global studies department august twenty fourth
two thousand twelve marks the twentieth anniversary of diplomatic relations
between korea and china
relations between the two countries have developed significantly in all sectors
politics economy society and culture to take the example of trade careers trade
with china search thirty four fold from six point four billion dollars in
nineteen ninety-two to two hundred twenty point six billion dollars in two
thousand twelve
china has emerged as the biggest trade partner for created since two thousand
three
and korea has become the third largest trade partner for china
however even good relations are faced with charges
now is the time to predict how china will change in ten years
an upgrade the relationship overall to maintain he beneficial relations built
up over the past twenty years
in this installment ernest future will be forecasting before aspects of the
economy industry finance and foreign affairs and the responses that korean
companies can take the rise of the vast consumer market is the first two
dimensions when discussing china's future
the chinese government is using organization is a key driver of economic
growth
by twenty twenty sixteen million ruled rollers more than the number of
residents and salt
will become a curving residence while the number of large cities with at least
one million people is expected to reach two hundred twenty
at the same time organization in a broader social security system will
contribute to a surgeon consumption and a shift in the spending behavior from he
central to the discretionary
this will cause the remarkable changing the structure of careers export to china
from intermediate parts and materials for assembly in export to intermediate
and finished goods for and consumers in china
second china's manufacturing industry will be coming danced in terms of high
technology
in the next ten years the manufacturing industry will develop a rapidly raising
china's influence instead of the approx new industries of the future
relations between chinese companies and foreign companies will shift from the
vertical one to a horizontal
competitively
also production by chinese companies will increase remarkably
accordingly competition between korean and chinese companies
will further intensifying all sectors from traditional business areas like
electronics telecommunication devices and petrochemicals
two new strategic business areas like renewable energy
third child emerge as a financial hub
p large trader an economic powerhouse will emerge as a financial hub in asia
based on its power in the real economy by twenty twenty the chinese to end is
likely to emerge as the world's third major currency after the u_s_ dollar and
euro pension is expected to become one of the top three global financial hubs
along with new york and london
in that case create can expect to see the positive impact of less foreign
exchange risks and lower trade costs with china
in addition if china opens its financial markets in line with globalization of
the u_n_ create can enjoy a better opportunities to enter into china's
financial industry while more chinese capital will find its way into correa
the last change will be china's higher status in global society to set
graduations
already china soft power in asia and in global society such as the u_n_
g_-twenty
klamath and world bank has risen rapidly and the trend is expected to excel rate
for the coming decade china will become a key variable increased foreign
policies
career will have to pursue any reasonable balance between itself and
eighty-two such other china's pursuit of advanced economic power is rating with
many challenges
china will produce significant results ten years from now
terroristic tons shift in the market industry and finance will present korea
with both new opportunities and risks
career needs to be responsive to the rise of china maximizing opportunities
while minimizing risks has it is time for the past two decades
as the massive china murky gross rivals such as japan and taiwan are harassing
their move
taiwan is further developing eight golden triangle strategy which combines
japan's technology
and china's capital to venture into the chinese market
japan is diversifying strategies by entering into china in partnership with
tonys companies
career should establish complete in china sisters and strengthened its
partnership with the chinese government and businesses
moreover a rapid rise of the chinese market will offer cream companies a good
opportunity to increase sales
it is critical for them to employees differentiated strategies developing
customers products that consider the original and demographic characteristics
of the best chinese market
chinese companies partner with global companies to broaden their base in the
domestic market
decal vacation resort company called mad
partnered with chinese companies who's on international
in opening enlarge resort near harbin
trying popularity
this has some important implications for cream companies
china is aggressively upgrading
economic cooperation to become an advanced country
it is particularly serious about cooperation with taiwan
since the china taiwan economic cooperation agreement which took effect
in two thousand one
china has improved cross street economic
cooperation
recently p electronics industry in mainland china suggested joint
establishment of technology standards on smart t_v_s and sharing of patents with
taiwan
korean companies also need to upgrade economic cooperation with china in new
business areas and handling of intermediary codes by harnessing various
channels such as the korea china free trade agreement
for the past two decades the two countries have maintained a successful
relationship in economic cooperation overcoming the external shock fee global
financial crisis
however as the conventional cooperation motto is increasingly becoming obsolete
re-establishment of the relationship with the new motto is necessary
hopefully cream companies can leave the construction of a mutually prosperous
future with the coming ten years in mind
thank you for watching