According to Anders (99), the economic prosperity of a nation is evident when among other factors, its GDP is relatively higher, and the standard of living in that particular country is measurably enhanced. China, a country that ranks second economically after the United States, has been on a radical socioeconomic transformation thanks to its social and political policies that have evidently favored much of its success. South Korea, similarly, has hit the headlines with robust prosperity-oriented strategies that were designed to drive its short and long-term development goals. The differences and similarities are quite salient and deeply harrowing them would account for why the two nations exist on their respective edges.
Justification for the Focus on Socioeconomic Issue
While the GDP of a country may be casually attributed to the hardworking and obedient citizens, there is so much to it than what is merely understood (Ramirez 228). China, for example, with an extremely high population needs interplay of a myriad of factors to develop and sustain its economic growth trajectory. There is a direct relationship between the socioeconomic organization and prosperity of a nation and its development (Mazerolle 307). Focusing on this issue, therefore, illuminates the whole image of that which constitutes a nation’s development strategy. Empirically, it is made possible to know why South Korea or China is/or is not succeeding in its economic endeavors.
Differences and Similarities (Preliminary) ...Show more