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- W2807533529 abstract "This chapter identified the hollowing out of manufacturing production, greater importance of large firms in the economy, employees’ wage stagnation, and rising housing prices as main reasons for the growing income inequality in Taiwan and South Korea. These factors are related. The hollowing out of manufacturing production is a result of massive investment in developing countries. Large firms benefited from their overseas investment while most of the domestic labors could only shift to low value-added service jobs with less remuneration. The wealthy entrepreneurs returned back to home countries and invested in real estate that led to higher housing prices. In the future, the majority of people with minor income would erode private consumption. The growing income inequality could also become a more serious concern in the societies if the economy continues to grow slowly." @default.
- W2807533529 created "2018-06-13" @default.
- W2807533529 creator A5023691394 @default.
- W2807533529 date "2018-01-01" @default.
- W2807533529 modified "2023-09-25" @default.
- W2807533529 title "New Challenges Ahead (I): Growing Income Inequality" @default.
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- W2807533529 doi "https://doi.org/10.1007/978-981-13-0274-9_6" @default.
- W2807533529 hasPublicationYear "2018" @default.
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