Case of Ghana and South Korea

• Ghana and Korea same level of GDP per capita in1970.

• Ghana

  • Ghana one of the best Cocoa producing countries
  • Set import restrictions and market body to buy Cocoa
  • Implications

• S. Korea

  • reduced import restrictions (except food)
  • use cheap but skilled labor in labor intensive industries
  • now into capital intensive industries

• US Example

  • what are we good at??

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