Sweden used the opportunity not involved in the two world wars, and ranks among the world’s most rich countries. Similarly, the Nordic 30 years after the last century, the rich countries face the challenge, carried out two major development strategies to adjust to the 21st century in order to maintain economic prosperity has laid a solid foundation.

Drastic industrial restructuring.

60’s last century was the fastest economic growth in Sweden during the post-war annual average economic growth rate above 5%. However, the rapid economic development of latent crisis. With the rise of newly industrialized countries, gave Sweden industrialization and economic prosperity has brought traditional industries, like steel, shipbuilding, iron ore, these labor-intensive textile and garment industry by increasing impact. In particular the occurrence of two consecutive 70’s far-reaching impact throughout the world oil crisis, the Swedish economy is almost caught in the stagnant state of development.

Faced with this challenge, how do the Swedish economy? Is the basis of the existing industrial reform, or a radical of the entire industrial structure adjustment? After the pros and cons of Sweden, chose the latter road. After a 20-year effort, the Swedish industrial structure has changed dramatically. Both shipbuilding and textile and garment industry in Sweden has a critical role in the industry has become negligible.

Textile and garment industry, in 1970, occupies 6% of total industrial output value of the share, in 1992, its share dropped to less than 2%. Iron and steel, mining and pulp and paper manufacturing, and other traditional industries, the share of industry in Sweden, from 1970 to the present 27% to less than 20%.

The opposite is the capital and technology-intensive industries will be growing rapidly. In particular, the pharmaceutical, electronic and telecommunications technology-intensive industries such as Sweden since the 20th century, since the 70’s the fastest growing industry, began to assume the heavy responsibility of Sweden’s pillar industry.

With the adjustment of industrial structure, the structure of the Swedish economy as a whole has undergone tremendous changes. 1970 to 1990 20 years, the proportion of tertiary industry rose from 53% to 64%. The proportion of public sector growth is particularly rapid. From 1970 to 1990, public sector employment in the country’s total employment rose from 20% to 30%.

To increase investment into the trend of globalization.

From the late 80s of the 20th century, more and more groups in the global economic trend of the force, the European economic integration has accelerated the pace moving. Sweden’s economic sector is not let this opportunity, thus giving rise to the Swedish history of another high tide of economic globalization. Its performance in two forms: one with the marriage of big business in other countries to form the new super-scale multinational corporations; Second, massive outward investment, the establishment of subsidiaries in other countries, into the country and the region as a bridgehead.

Upsurge in marriage, most notably General Electric and Asea Ruishibulang? Boveri merged to form the world’s largest electrical manufacturing company?? ABB. At the same time, the Swedish company off overseas investment. In 1986, the Swedish foreign direct investment from the previous year jumped to 140 million kronor to 25 billion crowns.

By 1990, just a few years, the Swedish foreign direct investment had reached 840 billion kronor. Until after Sweden decided to join the European Union, its foreign investment began to decline.
European Union is the main target of the Swedish business investment. As of 1990, foreign investment of SEK 84 billion, about 60 billion invested in the predecessor of the EU 12 member states of the European Community.

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