[James K. Galbraith] Think again about inflation and the Fed

Two days after the midterm elections in the United States, the Financial Times reported that US inflation has slowed, markets are “giddy,” and the Federal Reserve may now ease up on its interest-rate hikes. The timing was strategic, given that the push from oil prices ended in June, and that overall price changes have been low since July. With the election over, it seems, now it is safe to admit the facts. Just this past August, Harvard economist Jason Furman wrote that “underl

ViewpointsNov. 22, 2022

2022 Asia 100 years Forum

SUSTAINABLE ASIAN COMMUNITY The Uzbekistan Embassy's deputy chief of mission, Zokir Saidov (third from left) and the Bangladesh Embassy’s First Secretary Samuel Murmu (left) attend the 2022 Asia 100 Years Forum held in Gwangju on Friday. Co-hosted by the Northern Economic and Cultural Center and The Korea Herald, the forum explored ways to cooperate in regional politics, economy, society, culture and environment with a vision of establishing a sustainable Asian community. Philippine

Foreign AffairsNov. 22, 2022

[Sławomir Sierakowski] The rocket attack that wasn't

The rocket strike that killed two Poles near their country’s border with Ukraine on Nov. 15 proved to be a test not so much of defense policy as of the information policy of Poland, Ukraine, and NATO. Only the Americans passed. The European allies and Ukraine floundered, revealing a shocking lack of preparation for a scenario that could have been predicted almost from the beginning of the war. Poland is the largest country on NATO’s eastern flank and serves as the most important logi

ViewpointsNov. 21, 2022

[Elizabeth Shackelford] Will US foreign policy change after the midterms?

Though foreign policy played no real role in the outcome of the midterm elections, that outcome matters for foreign policy. Friends and allies around the world are likely breathing a sigh of relief that the predicted red wave never crashed. Our partners around the globe have been pleased by President Joe Biden’s “America is Back” foreign policy, and all signs point to that direction continuing. Supporters of democracy the world over are also taking comfort in the fact that Dona

ViewpointsNov. 21, 2022

[Robert J. Fouser] US midterms mark return to stability

The midterm elections in the United States last week upended the political scene. The Republicans had expected to ride a wave of discontent to take control of both houses of the US Congress, but, after more than a week of counting votes, the Democrats remain in control of the Senate. The Republicans will end up with a paper-thin majority in the House of Representatives, not the large margin they had expected. What happened? Historically, the president’s party loses seats in both houses i

ViewpointsNov. 18, 2022

[David A. Hopkins] Republicans’ underlying problems

Is it Dr. Mehmet Oz’s fault that the “red wave” expected by many Republicans didn’t materialize on Election Day? Did the Pennsylvania Senate candidate violate the physician’s Hippocratic Oath -- “first, do no harm” -- by inflicting severe damage to his own party’s electoral fortunes? You might think so, given the tenor of many post-election analyses. One of the main storylines of this year’s campaign has depicted a dramatic tension between

ViewpointsNov. 17, 2022

[Kim Myong-sik] Lee Jae-myung’s fate hangs in the balance

“The prosecutors’ job is to protect the people from crimes. Only criminals fear the prosecution that does its job properly. “The true prosecution reform, the real reform of criminal justice system is to establish a just law enforcement system to deal sternly with socially powerful people. There are countries on the earth that can do so and countries that cannot, but the Republic of Korea should be one that can do it. Because the Koreans are great people who have achieved indu

ViewpointsNov. 17, 2022

[Kim Seong-kon] Lessons from watching US midterm elections

In the US midterm elections on Nov. 8, many political commentators and analysts had predicted a “red wave” or even a “red tsunami” that would have resulted in Republicans’ taking control of both the Senate and the House of Representatives. However, no such thing happened. Instead, Republicans unexpectedly underperformed in the midterm. Expectations do not always match reality. What people thought would happen initially is that the Republican Party would win the el

ViewpointsNov. 16, 2022

[Reed Brody] More tyrants being brought to justice

Anyone hoping that Russian President Vladimir Putin will soon find himself in the dock of the International Criminal Court should take several long, deep breaths. While Putin’s war of aggression in Ukraine has not gone as planned, his grip on power remains unchallenged. And even if the ICC were to indict Putin for war crimes, it has no police force to arrest him. The international community simply lacks such enforcement tools. But Putin’s accomplices may not be as impervious as the

ViewpointsNov. 16, 2022

Bulgarian Embassy holds ‘Hidden Letters’ exhibition on Cyrillic, Korean alphabets

The Bulgarian Embassy and Korea Foundation showcased an exhibition on Bulgarian and Korean alphabets at the Korea Foundation gallery in Seoul on Thursday. The embassy presented the "Hidden Letters" exhibition, centered on the Cyrillic alphabet and Hangeul through a vernissage for diplomats, international organizations, local and central authorities, businesspeople and media personalities. Delivering welcome remarks at the exhibition, Bulgarian Ambassador Petko Draganov highlighted the

Foreign AffairsNov. 15, 2022

[Cory Franklin, Robert Weinstein] COVID-19's long-term devastation

Halloween is over; Christmas beckons. “Monster Mash” is out; “All I Want for Christmas Is You” is in. Feel-good movies have replaced seasonal zombie and vampire flicks. In the US, our real-life zombie movie is called COVID-19, and it has caused more than 1 million deaths. Along with that, there have been hundreds of thousands of non-COVID-19 excess deaths, and the number of people with long-term disabilities from COVID-19 may top off at a million or more. But no zombie

ViewpointsNov. 15, 2022

[Sergei Guriev] Disquiet on Western front

The timely release of a new film version of Erich Maria Remarque’s "All Quiet on the Western Front" offers a reminder of the close parallels between World War I and the current war between autocracies and democracies. The fighting now is in Ukraine, but, as in WWI, the broader war has several fronts: the energy front, the grain front and, less well noticed, the Western front. Across Western capitals, autocrat-backed lobbyists, enablers, fellow-travelers and “understanders&r

ViewpointsNov. 15, 2022

[Serendipity] Mourning, remembering

The concert hall remained eerily quiet as the conductor took his place at the podium. Then, all at once, the solemn sound of “Nimrod” from Elgar’s “Enigma Variations” filled the air. The evocative melody proved cathartic for the audience that had gathered less than a week after a crowd surge in Itaewon left 157 people dead. I saw people silently sobbing, wiping away tears. When the music ended, a minute of silence was observed in tribute to the victims of the countr

ViewpointsNov. 13, 2022