[Kim Ji-hyun] What negative rates in Japan mean for Korea

TOKYO — Japanese equities have tumbled, to say the least. The country’s lending rates are below zero, and for the first time the interest rates on long-term government bonds are also negative.　On Tuesday, Japan’s stock benchmark Nikkei plunged more than 5 percent. It marked the steepest fall since June 2013.　The results were ironic, since the Jan. 29 move by the Japanese central bank was actually designed to have the opposite effect: boosting stock prices and spur investment. 　And usually, that

Feb. 10, 2016

[Steve Andreasen] Nuclear threats from North Korea and Iran

North Korea’s latest underground nuclear test -- punctuated over the weekend by the rocket launch of a satellite that most experts believe is tied to the development of a long-range ballistic missile -- has set off an avalanche of analysis regarding the severity of the threat and the ineffectiveness of U.S. policy. Some say our failure to remove Pyongyang‘s nuclear threat through two decades of diplomacy should now guide our policy with respect to Iran. They argue that just as North Korea agreed

Feb. 10, 2016

[Shin Yong-bae] Pinning hopes on ‘one-shot’ act 　

After many twists and turns, the National Assembly last week barely passed a controversial bill aimed at boosting corporate vigor.Simply put, the special law with a three-year mandate will ease regulations stipulated in other economic-related laws and provide tax and financial incentives for corporate restructuring.　The political circle calls it the “One-Shot Act” in the apparent hope that it will help clear legal barriers in a single blow for companies looking to sell off, spin off or purchase

Feb. 10, 2016

[Jean Pisani-Ferry] The politics of young and old

If one considers some of today’s main challenges – including climate change, pensions, public debt, and the labor market – an obvious conclusion emerges: It is relatively much worse to be young today than it was a quarter-century ago. Yet in most countries, the generational dimension is remarkably absent from the political debate. Fifty years ago, people spoke often, and loudly, of a “generation gap.” Today, that gap has become invisible. This is bad for the young, for democracy, and for social

Feb. 5, 2016

[Kim Ji-hyun] ‘Geunhyenomics,’ or the lack thereof

The eponymous “Abenomics,” a set of reform plans named after Japanese Prime Minister Shinzo Abe, frequently turns up in the world’s media. But nobody ever refers to “Geunhyenomics” for South Korean President Park Geun-hye, and it’s not just because it’s hard to pronounce. It’s because nothing has changed from the ancient government policies of the 20th century despite almost every aspect of the economy changing.Consequently, companies are faltering, foreign reserves are down, stock markets are o

Feb. 5, 2016

[Kim Ji-hyun] Courtesy makes for a pleasant life

It’s pretty common knowledge that Japanese people are polite. 　But it’s not just that. Not just the gestures. It’s more about the way people interact. 　The basis is rather simple. It’s actually not just a blind avoidance of making a nuisance for anyone, as non-Japanese people are often taught to believe.　It’s based on the universally approved assumption that the other person would like to be treated the way you would also like to be treated. 　But this not always easy, as those of you have tried

Feb. 3, 2016

[Kim Myong-sik] Fragmented Korean partisan politics　

It appears that North Koreans are ready to launch another rocket to demonstrate that they can send a nuclear warhead to any target in the world. 　American and Japanese security officials have been trying to devise countermeasures to this grave threat ever since the North’s fourth nuclear test early last month. South Korea’s dauntless politicians, on the other hand, seem least perturbed. 　For months, the governing and opposition parties have been haggling with one another over proportional repres

Feb. 3, 2016

[Robert J. Fouser] Is learning Korean difficult?

Foreigners who show an interest in learning Korean hear conflicting things from well-meaning native speakers. They are told that Hangeul is the easiest writing system to learn because it is the most scientific in the world. They are also told that Korean is one of the most difficult languages to learn because it has so many expressions for the same thing.　Linguists, meanwhile, reject the idea that one language is more difficult to learn than another or that one language is “richer” than another.

Feb. 2, 2016

[Kim Seong-kon] Korea: a glittering land of literature and the arts

During the Korean War, and even as recently as the mid-1980s, few people knew where the Korean Peninsula was located. Sadly, Korea was an anonymous land, always left out from discussions about East Asia, which chiefly revolved around China and Japan. Sandwiched between its more famous neighbors, Korea was always invisible, inconspicuous and peripheral.   　Today, however, Korea is quite well-known globally, both the North and the South. Of course, the two Koreas have become known to the world in

Feb. 2, 2016

[J. Bradford DeLong] Economics in age of abundance

Until very recently, one of the biggest challenges facing mankind was making sure there was enough to eat. From the dawn of agriculture until well into the Industrial Age, the common human condition was what nutritionists and public health experts would describe as severe and damaging nutritional biomedical stress.　Some 250 years ago, Georgian England was the richest society that had ever existed, and yet food shortages still afflicted large segments of the population. Adolescents sent to sea by

Feb. 1, 2016

[Minghao Zhao] What Xi can offer Middle East　

Those who have criticized China’s cautious foreign policy need to reconsider their position, following President Xi Jinping’s just-completed visit to Saudi Arabia and Iran -- two major Middle Eastern powers that are currently at each other’s throats. 　The visits reflect the more active foreign policy approach that Xi has spearheaded, particularly in the Middle East. This new approach raises an important question: Can China’s impact on the region be more constructive than that of the United State

Feb. 1, 2016

[David Ignatius] Obama’s Egyptian blunder

Five years ago, President Obama made a decision that helped topple Egyptian President Hosni Mubarak. His policy represented a bet that the democratic surge of the Arab Spring could lead to a stable political transition in Egypt and elsewhere in the Middle East. 　Obama’s embrace of the Tahrir Square protesters’ demand for Mubarak’s immediate departure was idealistic, popular and understandable at the time. But it was arguably among the biggest mistakes of Obama’s presidency. And, interestingly, i

Jan. 31, 2016

[Jeffrey D. Sachs] The global economy’s marshmallow test

The world economy is experiencing a turbulent start to 2016. Stock markets are plummeting; emerging economies are reeling in response to the sharp decline in commodities prices; refugee inflows are further destabilizing Europe; China’s growth has slowed markedly in response to a capital-flow reversal and an overvalued currency; and the U.S. is in political paralysis. A few central bankers struggle to keep the world economy upright.　To escape this mess, four principles should guide the way. First

Jan. 31, 2016

[Robert B Reich] Volcanic core of U.S. election

Not a day passes that I don’t get a call from the media asking me to compare Bernie Sanders’ and Hillary Clinton’s tax plans, or bank plans, or health care plans.　I don’t mind. I’ve been teaching public policy for much of the last 35 years. I’m a policy wonk. But detailed policy proposals are as relevant to the election of 2016 as is that gaseous planet beyond Pluto. They don’t have a chance of making it, as things are now.　The other day, Bill Clinton attacked Sanders’ proposal for a single-paye

Jan. 29, 2016

[Suthichai Yoon] Why populist policies must include anti-graft measures

What has populist policy got to do with corruption? A lot, according to Thailand’s top graft-fighter, Panthep Klanarongran, who has just retired after nine years at the head of the National Anti-Corruption Commission.　But isn’t populism an integral part of politics? Politicians want to be popular, and the only obvious way to boost their chances of being reelected at the next election is to resort to populist policies. 　But if populism and corruption are inseparable, how does one go about prevent

Jan. 28, 2016

[Chon Shi-yong] A vicious presidential circle

Former President Lee Myung-bak said last week that he had given up on a plan to establish a foundation commemorating his presidency because authorities kept looking into the possible wrongdoings of his associates. 　Lee did not directly mention the state prosecution, but Lee’s comment came shortly after prosecutors admitted that it had traced the financial accounts of some of Lee’s former aides in connection with a corruption probe.　It is not the first time that people close to Lee have been targ

Jan. 28, 2016

[Irina Bokova and Sara Bloomfield] Did Goebbels' message win out in the long run?

In 1930s Germany, Nazi Party leaders understood the power of mass communication to disseminate hatred and anti-Semitism. “Propaganda,” Hitler wrote, “is a truly terrible weapon in the hands of an expert.” In their rise to power, the Nazis deployed sophisticated modern communications technologies, including radio and film, to win the battle of ideas -- and thus to shape public opinion and behavior -- among a well-educated population in a fledgling democracy.　The Nazis are gone but propaganda live

Jan. 27, 2016

[Choi He-suk] Yeouido’s affairs and romances　

There is a line in everything, a boundary that should not be pushed too hard or violated. Whether it is an interpersonal relationship, or a professional code of conduct, there is a limit beyond which one’s actions become no longer acceptable. 　The party crossing the line is often unaware that this invisible boundary is being violated, and in some cases the violator is the first to cry foul and be offended. 　Crossing the line seems to be becoming more and more common throughout society.　These vio

Jan. 27, 2016

[Kim Seong-kon] Korea in the vortex of world politics

As North Korea jeopardized world peace again with its self-proclaimed hydrogen bomb test, South Koreans are concerned about the future of the Korean Peninsula. What if the wayward political leaders of North Korea misjudge the situation and launch nuclear missiles at the South? What if they are reckless enough to cross the border and start another Korean War? 　Military experts claim that since the ROK Army is equipped with cutting-edge military technology, which is far superior to that of its cou

Jan. 26, 2016