Re:South Korea: The only middle power of its kind
by sandworm101 on Tuesday August 03, 2021 @02:09PM
(#28052230)
>> juice you can squeeze out of a shrinking workforce
On the assumption that the economy is based on a workforce. An economy can be based on paper assets. An "innovation nation" that makes GDP out of intellectual property assets, banking and offshore investments could sustain itself without the need for an ever-growing labor force. SK isn't Luxembourg, but nor is it India.
Re:South Korea: The only middle power of its kind
by luckylion on Tuesday August 03, 2021 @02:35PM
(#28052517)
As a tax haven, Luxembourg depends on France + Germany's tolerance for tax evasion though. Granted, it has worked out great for them, but it's not necessarily a long-term strategy.
On the assumption that the economy is based on a workforce. An economy can be based on paper assets. An "innovation nation" that makes GDP out of intellectual property assets, banking and offshore investments could sustain itself without the need for an ever-growing labor force. SK isn't Luxembourg, but nor is it India.
https://en.wikipedia.org/wiki/Economy_of_Luxembourg