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August 2009
JUNG Ku-HyunSamsung Economic Research Institute
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Bear StearnsCrisis of GSEs
31.01
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Lehman Brothers Chapter 11
70.33
Real Economy Nosedived Crisis
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32.1
Stress Test ofAmerican Banks
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6Source : BEA, C.Romer(1989), Datastream
-15
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10
15
1921 1922 1923 1924 1925 1926 1927 1928 1929 1930 1931 1932 1933 1934 1935 1936 1937 1938 1939
(yoy: %)
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1,800
2,000
2,200
1,800
2,000
2,200
KOSPI
KOSPI Won/USD
8
800
1,000
1,200
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1,600
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337.0
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92.3
361.4
USA Japan China Germany Korea Singapore
2007 2008� Foreign Trade/GDP (%)
9
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
19.6
42.0
32.4
28.8
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Exports Growth
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18
Year-on-Year
(%)
Year-on-Year
(%)
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20
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400
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6
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China’s GDP Components
15
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40%
45%
50%
55%
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1990 1995 2000 2001 2002 2003 2004 2005 2006 2007
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Weights of Consumption and Wages to GDP
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2006 2007 2008 20092005
-10.0
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Gov’t Expenditures
Private Investment
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GDP growth rate
0.0
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40
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Japanese companies
Korean companies
Revenue (U.S. $.billion))
Honda
27
10
20
-25 -20 -15 -10 -5 0 5 10 15 20 25
OperatingProfit Margin(%)
Honda
Sony Panasonic
Nippon Steel
Canon
Samsung Elec.
Mitsubishi Heavy
POSCOHyundai Heavy
LG Elec.
Hyundai Motor
note1: Sales revenues were converted into dollars by multiplying quarterly average of won/dollar and yen/dollar exchange rates.2: Sales revenues of Korean companies were based on parent-only financial statements and those of Japanese companies were
based on consolidated financial statements.Source: KIS-Value (Korean companies), Thomson One Banker (Japanese Companies)
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