[kimchi]

My amateur armchair analysis:

South Korean management worked well during the rougher industialisation it underwent in the 60s - 80s. It's management style favours process over results which is a huge hurdle to continued efficient growth. The banking crisis in 1997 culled some of the more bizarre practices but while Korea does well at copying technology and making it more marketable, at some point stale management will prove to be a limiting factor.

I think everything Korea can make, China can/will make cheaper, and eventually to a similar quality. Korea has no natural resources and is very reliant on US exports. These will slow if current trends in the US persist.

Having said this, I believe the 19th century belonged to the British and its Empire, the 20th century was America's and the 21st century will belong to Asia.

China and India are well placed to whether any future US meltdown due to their huge middle class, (which are both larger than the US') with China's middle class especially which has been subsidising The US consumer's consumption orgy for some time now. Once/if they stop that subsidy, I think their middle class will provide sufficient demand for their own products - maybe like the US consumers made Detroit the industrial powerhouse it once was despite foreigner countries disliking US-made cars.

Everything above is probably bollox. Just follow the long-term trends and you'll be fine. They are: China, India, Pacific basin (ex-Japan), and Latin America.

I think Africa will also have its day in the not too distant future.