North Korea and the South Korean Economy Research Paper

North Korea and the South Korean Economy - Research Paper Example Countries that have the same historical and cultural background are likely to progress in the same manner. This is because generally the same culture exists in similar geographic locations. This makes the countries to have access to similar economic resources. The population of such countries also share similar skills and are able to do particular kinds of tasks generally. The system of distribution and allocation of resources might be the same too. In short, countries with the same history and culture are expected to have similar economic policies and are likely to advance in the same manner. However, this might not always be the case. North and South Korea are the prime examples of the countries that, despite having similar ethnographical backgrounds, have different economic performances. South Korea, because of an emphasis on world trade have adopted politics that are aimed at world cooperation while North Korea has adopted stringent political policies that has made it suffer econ omically and led to increased poverty and starvation.Before moving on to discuss the different economic performances of both the countries, it is important to discuss the major events that shaped the history of both North and South Korea. The economic history of Korea can be divided into three broad categories, the Malthusian stagnation to 1910 when Japan annexed the country, the colonial period from 1910 and 1945 when Korea was considered as a mandate by countries of the West, and the post colonial period where North and South Korea performed in different ways.