Most Popular
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Industry experts predicts tough choices as NewJeans' ultimatum nears
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Jung's paternity reveal exposes where Korea stands on extramarital babies
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Seoul city opens emergency care centers
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Opposition chief acquitted of instigating perjury
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Samsung entangled in legal risks amid calls for drastic reform
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[Exclusive] Hyundai Mobis eyes closer ties with BYD
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[Herald Review] 'Gangnam B-Side' combines social realism with masterful suspense, performance
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Agency says Jung Woo-sung unsure on awards attendance after lovechild revelations
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[Herald Interview] 'Trump will use tariffs as first line of defense for American manufacturing'
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Why S. Korean refiners are reluctant to import US oil despite Trump’s energy push
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Slow march to the free market
The World Bank has warned China that its economic growth model, which depends heavily on exports and state-owned enterprises (SOEs), is unsustainable. Though criticized for some past judgments, this advice from the World Bank is sound. It comes in a report, co-authored with the Development Research Center of China‘s State Council, which recommended that Beijing reduce the dominant role of SOEs in order to promote the free market.Having amazed the world with the dramatic results of the economic r
March 6, 2012
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[J. Bradford DeLong] A case for larger national debt
BERKELEY ― Across the Euro-Atlantic world, recovery from the recession of 2008-09 remains sluggish and halting, turning what was readily curable cyclical unemployment into structural unemployment. And what was a brief hiccup in the process of capital accumulation has turned into a prolonged investment shortfall, which means a lower capital stock and a lower level of real GDP not just today, while the recovery is incomplete, but possibly for decades.One legacy of Western Europe’s experience in th
March 5, 2012
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Middle-class welfare state is invisible by design
What is a government program? And are you on one right now? Those are the questions Cornell University political scientist Suzanne Mettler has been posing. For her book “The Submerged State,” she asked a scientifically selected sample of 1,400 Americans whether they had ever used a government social program. Only 43 percent copped to having done so. Then she read off 21 social programs, such as Medicare and the home-mortgage interest deduction, and asked the same question again: Have you ever us
March 5, 2012
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The forces that hold up Assad’s regime in Syria
After a year of political unrest and thousands of civilian casualties at the hands of government forces, the common assumption is that the regime of Syrian President Bashar Assad has lost all legitimacy in the eyes of the Syrian people. But the reality is far more complex, with key factions continuing to see their fates as intrinsically linked to the Assad regime’s survival.The core of Assad’s support still lies within the minority Alawite sect, of which he is a member. Many Alawites, who make u
March 5, 2012
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We need to make college education more affordable
For Mexican-Americans and others trying to get ahead, education had been the stairway to the middle class. Education meant security and basics such as health insurance. This heaven meant better jobs and a small house for old age.But now this stairway has fallen into disrepair. One rung after another has been destroyed.The first rung was financial assistance. Many Latino students and poor blacks and whites could afford college only through grants and subsidies. But over the last two decades, coll
March 5, 2012
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Obama Must Make Red Lines on Iran’s Nuclear Effort Clear to Israel
By many accounts, U.S. President Barack Obama and Israeli Prime Minister Benjamin Netanyahu don’t much like or trust each other. It’s important that they use their meeting on Monday (March 5) to end at least the mistrust. For many months now U.S. diplomacy has been directed as much at stopping an Israeli preemptive military strike against Iranian nuclear facilities, as at Iran itself. It’s partly thanks to the tension created by Israel’s threats to act that the Obama administration was finally a
March 5, 2012
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A frightening view of government intelligence
As promised in December, WikiLeaks has begun to release a stash of documents related to the modus operandi of the “private intelligence” sector, using Texas-based Stratfor as a case study. Claiming to have hacked Stratfor’s system to obtain millions of private emails, WikiLeaks has just released the first batch ― and what it suggests about the American intelligence community makes me feel as secure as day-old pizza in a frat house.The CIA has long used private intelligence firms for “black ops,”
March 4, 2012
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[David Ignatius] Yemen’s peaceful power transfer
WASHINGTON ― In the turbulent annals of the Arab Spring, a ceremony in Yemen a week ago was so quiet it was barely noticed. But it marked the transfer of power from an aging autocrat who had ruled his country for 34 years to a new leader who’s saying the right things about reform. This was a stage-managed change of regime, and one that left some loose ends and unresolved questions. It was a product of backroom dealing and regional realpolitik. But in its very lack of visibility, the Yemen handov
March 4, 2012
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Romney’s missed chances on role of faith in elections
Mitt Romney has missed several golden opportunities to turn this campaign’s religious fixation to his advantage.Given that polls show he faces prejudice among a sizable share of primary voters because of his Mormon faith, you would think Romney would be eager to try to redefine the role of faith in the election. But he keeps refusing to challenge those who would apply faith-based litmus tests, even though doing so would win him plaudits among the independents who will pick the next president. Th
March 4, 2012
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When big business and human rights collide
Among the thousands of interviews I’ve conducted as a human rights investigator over the last 24 years, one of the most difficult was in 1996, outside a refugee camp along the Thai-Burma border. I was no stranger to suffering in my country. I had fled from Burma (also known as Myanmar) just a few years before, escaping the brutal military regime after being arrested and tortured.I had gone to the camp to investigate reports that villages were being uprooted and brutalized to make way for a natur
March 4, 2012
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[Robert Reich] Gasoline price rises benefit Wall Street speculators
Nothing drives voter sentiment like the price of gas ― already up nearly 30 cents from the start of the year and hitting $4 in many places. The last time gas topped $4 was 2008.And nothing energizes Republicans like rising energy prices. House Speaker John Boehner is telling Republicans to take advantage of voters’ looming anger over rising prices at the pump. House Republicans have passed a bill to expand offshore drilling and pressure the White House into issuing a permit for the Keystone XL p
March 4, 2012
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Greeks today might ask: What would Pericles do?
Greek opinion is divided over the government’s plan to offer the Parthenon and other heritage sites as film and photo backdrops to raise revenue during its current economic crisis. “This is sacrilege!” one Greek tour guide protested. But others thought that, humbling though the measure might be, it was at least better than begging for foreign bailouts.For some Greeks, the debate may have evoked a sense of deja vu. Pericles, the great Athenian statesman, also proposed raiding the Parthenon to mee
March 2, 2012
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[Joel Brinkley] Youth aren’t served in Saudi Arabia
Thanks largely to Iran, gas prices are rising to heights unseen in years ― $4 or more per gallon in some areas. And one nation more than any other stands to benefit from this.That nation, of course, is Saudi Arabia, the world’s largest oil producer, an exceedingly wealthy state with a current-account balance of $151 billion, the world’s second largest.So it seems a bit curious that Saudi Arabia has one of the world’s highest youth unemployment rates. At least 40 percent of Saudis under 30 years
March 2, 2012
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Indonesia’s purchases of arms from abroad
The Indonesian government’s plan to buy 100 used Leopard tanks has sparked debate within the House of Representatives, but apparently the show must go on as part of the country’s long overdue modernization of defense equipment. Deputy Minister of Defense Sjafrie Sjamsoeddin provided the Jakarta Post’s Novan Iman Santosa, Dwi Atmanta and Imanuddin Razak with a broader picture of the issues of primary weaponry system modernisation.Question: What is the latest update on negotiations to purchase sec
March 2, 2012
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New vision for reforms
Ideas would be much more important for China than money, former Chinese leader Deng Xiaoping told Robert McNamara, the then president of the World Bank, in 1980. The World Bank report, “China 2030: Building a Modern, Harmonious, and Creative High-Income Society,” which was released on Monday, bears full testimony to Deng’s prescience. More than three decades of remarkable growth have transformed China, from a largely insignificant player in the global market, into the world’s second largest econ
March 2, 2012
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Europe must step up efforts for financial safety net
Further efforts by Europe are indispensable if it is to contain its debt crisis. Japan, the United States and emerging economies took this stern position vis-a-vis Europe during the latest meeting of the Group of 20 economic powers.The G20 meeting, which ended Sunday in Mexico after adopting a joint statement, was participated in by finance ministers and central bank governors of the 20 major economies, including Japan, the United States and the European Union plus China and Brazil.The focal poi
March 2, 2012
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[Yuriko Koike] Rubble economy after triple tragedy
TOKYO ― On March 11, a year will have passed since Japan was struck by the triple tragedy of an earthquake, tsunami, and nuclear accident. According to figures announced by the country’s National Police Agency, the Great East Japan Earthquake left behind 15,848 dead and 3,305 missing ― the largest loss of life due to natural disaster in Japan since World War II. Searches for the missing ― mainly at sea ― are still continuing.The number of buildings affected by the earthquake or the tsunami inclu
March 2, 2012
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Revenge of the ‘super PACs’ against the U.S.
Chalk up another win for the law of unintended consequences. When federal courts ruled in 2010 against restricting donations to political action committees, Republican strategists rejoiced. Here, they thought, was a way for the GOP’s deep-pocketed donors to gain an advantage over President Obama’s fundraising machine.But look what happened. “Super PACs,” as the newly empowered political action committees are known, have mutated like election-year Godzillas, wreaking havoc in an increasingly bloo
March 1, 2012
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[Jeffrey D. Sachs] A World Bank for a new world
NEW YORK ― The world is at a crossroads. Either the global community will join together to fight poverty, resource depletion, and climate change, or it will face a generation of resource wars, political instability, and environmental ruin.The World Bank, if properly led, can play a key role in averting these threats and the risks that they imply. The global stakes are thus very high this spring as the bank’s 187 member countries choose a new president to succeed Robert Zoellick, whose term ends
March 1, 2012
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Hong Kong’s basement-gate points to shaky future
Washington had Watergate, Italy bunga bunga-gate, London Murdoch-gate. Now, Hong Kong brings us basement-gate. It’s a scandal that many of us outside the city of 7 million might find hard to fathom. Henry Tang, the favorite to be Hong Kong’s next leader, has an illegal basement. In my mind, that’s only a problem if you are storing drugs, trafficking humans or evading taxes. For Hong Kong residents squeezed by surging rents and living costs, Tang’s underground aerie, which he built without a gove
March 1, 2012