South korea economy

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Asia Fund Managers
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Economy Growth China is the most populated
nation on the planet, and the China economy has
recently become the worlds largest in terms of
purchasing power parity. Nevertheless, China is
struggling with slower growth, and also the
COVID-19 pandemic is taking its toll on the
countrys economy. But, according to the
International Monetary Fund (IMF), China economy
growth is one of the few economies poised to
grow in 2020. However, the prediction of 1.2
growth is a sharp slowdown.
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South Korea Economy South Korea has a population
of just over 51 million, it has relatively high
population density and few natural resources. It
has adopted the capitalist ways of the West and
its economy features low unemployment, moderate
inflation, export surplus and relatively
equitable distribution of income. However South
Korea does have an ageing population, a rigid
labor market and is reliant on imports. Excluding
2009, South Korea has seen GDP growth above 2,
and sometimes well above, for the past decade.
In 2019, South Korea saw a GDP growth of 2. For
2020, due to Covid-19, the IMF predicts the
economy to shrink 1.2. If the pandemic is
brought under control in the second-quarter of
this year, South Koreas economy could grow
again 3.4 percent in 2021.
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