The relationship between South Korea and China has been very close since the establishment of diplomatic relations in 1992, and South Korea has always obtained it from ChinaSurpluscountries. However, starting in 2023, there has been a reversal between South Korea and China, and China's support for South Korea has begun to decrease, resulting in a huge deficit in South Korea's exports to China.
According to data released by South Korea, in the first 11 months of 2023, South Korea and ChinaDeficitreached $18 billion, which is a rare deficit among China and South Korea. China has been South Korea's largest beforeSurplus** country, but from 2023, South Korea will no longer be able to obtain it from the Chinese marketSurplus。The emergence of this situation is related to the support of South Korea for the United States, which actively participates in the US strategy of encirclement and containment of China, but ignores the loss of its own interests.
South Korea and China are very closely connected in the economic and trade fields, and South Korea has many companies in the Chinese market, especially chip manufacturing giants. However, in order to actively support the United States in encircling and containing China, South Korea has given up its interests in the Chinese market and resolutely sided with the United States.
Chips are South Korea's pillar industry, and South Korea has actively participated in the chip war against China launched by the United States, prohibiting many chip products from entering the Chinese mainland market. This directly hit South Korea's exports**, and the profits of South Korean chip giants also fell sharply. In order to contain China, South Korea does not hesitate to sacrifice its own interests.
It is worth noting that the U.S. containment strategy has also taken a toll on U.S. companies, especially if they are unable to market high-end AI chips in the Chinese market. However, U.S. Commerce Secretary Raimondo made it clear that U.S. businesses must bear the current losses in the face of U.S. national interests. The United States can be said to be merciless in its own corporate losses, not to mention its attitude towards South Korean companies. Therefore, when the United States launched the chip war, South Korea paid a heavy price on the front line.
Exports from South Korea since 2023EconomyCaught in a crisis. In addition to the inability of the chip industry to export to the Chinese market on a large scale, South Korea's automotive industry is also facing serious challenges. The competitiveness of the Korean automotive industry has declined sharply due to the lack of competitiveness in the field of electric vehicles, further exacerbating the country's growthDeficit
During the Moon Jae-in period, South Korea maintained close economic and trade cooperation with China for South KoreaEconomyhas contributed to the continued development of the company. However, today's South Korea follows the foreign strategy of the United States and does not care about its ownEconomyThe foundation has led to a precipitous decline in China, which can be said to be the result of "seeking a hammer and getting a hammer".
With South KoreaEconomyThe predicament has intensified, and South Korea's ** Yoon Suk-yeol's approval rating has fallen sharply. South Korea's decision to follow the U.S. strategy toward China has paid a huge price, which has made many South Korean people question and be dissatisfied with the decision. Yoon Suk-yeol's ** is inEconomyMissteps in development and ** led to South Korea'sEconomyRecession and political crisis.
Similar to South Korea, Japan faces the same dilemma. Japanese Prime Minister Fumio Kishida's approval rating has also fallen below 20%, and his ** cannot be changed. These facts all show that blindly following the results of the United States in terms of strategy may give the countryEconomyand politics with great losses.
South Korea's support for the U.S. decision to contain China has led to a decline in exports to China and a huge deficit. Starting in 2023, South Korea will not be able to obtain it from the Chinese marketSurplus, because South Korea has given up its interests in the Chinese market. South Korea's active participation in the chip war against China and other restrictive measures initiated by the United States has led to a crisis in South Korea's export economy. At the same time, South Korea's decision-making has also triggereddomestic economyand political dissatisfaction, Yoon Suk-yeol ** is facing a serious decision-making crisis.
Not only South Korea, but also Japan is facing a similar dilemma. This fact reminds us that relying too much on a single external power can lead to the detriment of national interests, and that a balance between cooperation and development should be sought. At the same time,EconomyDevelopment and external stability also need to be based on the principle of long-term cooperation and mutual benefit, rather than blindly pursuing short-term political interests. For China, the policy of reform and opening up has been a great success, and it is also the worldEconomyOne of the important engines of growth. China will continue to adhere to the principles of openness and cooperation to promote the worldEconomyprosperity and development.