How Korea Fretted Its Way to Success

摘要

The Korean business community thrives on worry. And for most of the past decade its main fear has been what could be called the Big Squeeze Theory. With higher labor and production costs than most Chinese exporters, the theory went, Korea's major conglomerates, or chaebol, would start losing market share to Chinese champions such as Huawei, BYD, or Baosteel. At the same time, Hyundai Motor, LG Electronics, and Samsung would, after a decade of dazzling success, finally be out-innovated by their archrivals in Japan.