Dynamic Competitive Position between the Foreign Joint Venture and NICs’ Indigenous Firms

Three years ago, South Korea exported hardly any cars. In 1987, it will probably send more than 450,000 cars abroad; most will go to the United States. It is a prospect that thrills the South Koreans, worries protectionist Americans, and frightens the Japanese carmakers, whose dominance of the small-car market the South Koreans are challenging.

("South Korea's Carmakers Count Their Blessings," The Economist, 3 January 1987, p. 45)