At the present time the Northeast Asian region is characterized by two contrasting elements, growth and tension. The Northeast Asian economy has been growing rapidly over the past several years. After the end of the Cold War, China adopted on market system and high-growth policies. On the other hand, however, the tension between the two Koreas, South and North, and the tension between China and Taiwan still exist and it seems that the tensions are likely to increase even more for sometime to come. The Korean economy has been steadily developing over the past 30 years and has often been cited as an economic model country in the world. At present Korea's GDP ranks the 12th and the nations's trade volume ranks the 11th in the world. Also Korea is actively competing with industrially advances nations in the international markets for electronics, crude steel, automobiles, shipbuilding and petro-chemicals. Korea has just become the 20th OECD's member country and is now in a position to behave as developed country. Still, however, there is a long way for Korea to go before it reaches the national goal of a full-fledged developed country. To achieve that goal, Korea requires a strong national leadership among other things. The national leadership governs the people's attitude toward development and influences the government policies. The people's mind and attitude should be outward-looking and market oriented. They have to learn quickly how to live with the world people in the era of competition and cooperation. The government ought to maintain market stability . To be more specific, the government policies should focus on the maintenance of the stable microeconomy, the upgrading of the manufacturing industry, and the implementation of efficient welfare programs.
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