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Basic Materials
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While exports may garner most of the attention, the often overlooked basic materials sector remains a vital part of China s economy Companies involved in construction materials, glass, paper, wood products, metals, and steel manufacturing, as well as coal mining, have proven extremely pro table for investors China possesses vast amounts of natural resources, ranging from tin, antimony, rare earth, and titanium to zinc, iron, gold, and silver Other mineral resources, such as talc, asbestos, cement, and limestone are also exported in mass quantities China s growing construction industry is responsible for the major infrastructure building over the last decades In doing so, China has relied heavily on its own natural resources Recent plans by the Chinese government have focused on the construction of roads, railways, airports, and bridges and the continued development of its infrastructure Enthusiasm for such projects has attracted signi cant foreign investment, and made the basic materials sectors in China among its most pro table Over the past 10 years, in fact, the construction industry has accounted for almost 7 percent of the country s GDP growth In 2004, the government removed several barriers to the nancing of construction projects by outside investors Aside from improved infrastructure for residents, the lifting of restrictions resulted in a surge in both pro ts and ef ciency As the construction industry skyrocketed, so too did the demand for basic materials China is showing few signs of slowing down its ambitious plans for the improvement of infrastructure, and thus the basic materials sector is likely to remain one of the China s most pro table industries Prominent Basic Materials Companies Baoshan Iron & Steel Minmetals Development China Resources Enterprises Aluminum Corporation of China Maanshan Iron & Steel
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Industrials
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China s industrial sector includes a large number of companies involved in trades ranging from equipment and machinery manufacturing to shipping and armaments Much like China s basic materials sectors, industrials have an exceptional potential for growth as the nation s infrastructure gradually improves The success of a nation s industrials sector is often a leading indicator of forthcoming economic prosperity, and for China, this axiom appears to hold true
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Manufacturing a Future
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China s energy sector has fueled, both literally and guratively, the nation s historic period of economic growth China s heavy industries, such as chemical, metals, and construction, currently account for almost 80 percent of the entire nation s industrial energy use Other gures illustrate this point even further, as almost 75 percent of the nation s total energy use is derived from the industrial sector a rate that has been growing for the last several decades China alone presently accounts for roughly 25 percent of the world s industrial energy consumption Such statistics highlight China s booming industrial sector Despite costly programs to reduce industrial pollution, pro ts from this sector should remain high, as construction and infrastructure projects are not likely to slow down anytime soon Prominent Industrials Companies China Communications Construction Group Ltd Shanghai Construction Group General Co Beijing Urban Construction Group Co, Ltd China has been at the forefront of globalization since its dramatic economic surge of the late 1970s Witnessing improvements in almost every economic category, a nation that had been plagued by in ation and political instability has transformed to become the fastest growing economy in the world today Though it will encounter more dilemmas during this progression, China, through its pivotal role in global nance, will continue to attract investments across a wide range of industries
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CHAPTER
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A Peninsula of Perseverance
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The History of Korea
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History always brings glory to the people who are courageous and willing to overcome hardships Park Chung-hee, former president of South Korea
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orea has one of the world s longest histories with a homogeneous people, language, and culture Koreans trace their origins back to the Chosun, a tribal kingdom that emerged near the Chinese border around the fourth century BC The Silla kingdom, 668 to 935 AD, marked the beginning of Korean cultural development From the time of the Silla kingdom time until 1945, when it was forcibly divided at the 38th parallel, Korea existed as a uni ed country with a distinctive language and strong tradition Korea s physical location places it in a geopolitically strategic but precarious position Surrounded by greater powers such as China, Russia, and Japan, the Korean Peninsula has all too often been a battleground for the clashing interests of larger nations As such, Korea has suffered 900 invasions over the course of its 2,000-year history The country experienced foreign occupation by China, the Mongols, Japan, the Soviet Union, and the United States In modern history, three major wars among these neighbors have taken place on Korean soil the SinoJapanese war in 1894, the Russo-Japanese war in 1904, and the Korean War in 1950
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