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Why the South Korean Economy is 20 Years Ahead of the World
Like China, Japan, Russia, and Germany, South Korea is in many ways ahead of the rest of the world due to its declining and, in some cases, collapsing demographics.
(Here is the link behind my paywall.)
By 2040, most of the Boomer generation will be dead, and sadly, due to industrialisation, boomers did not have a replacement generation, the millennials.
The Boomer generation was born in the post-war period, which began after 1945; it tends to be regarded as those born after 1945 until 1960.
This Is necessary because South Korea, China and other East Asian nations started industrialisation or, in the case of Japan, reindustrialisation after World War II and the global order created by the United States, which enabled global trade, which meant each nation could go on the road specialisation.
In layperson’s terms, industrialization means a significant shift from farming to living in industrial and more economically productive cities.
This transition, with children living in cities becoming, at best, an expensive accessory or, worse, a drain on household income, profoundly impacts the economy.
If we look at the example of Great Britain, the first nation to go down the industrialisation process…
