Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
[Editorial] Alarming debt growth
South Korea’s rapidly climbing household debt is a key factor hampering the nation’s growth potential.Its significance is evident when we compare the growth of the nation’s gross domestic product and collective household debt in the first quarter. While GDP inched up 2.7 percent on-year during the first three months, the nation’s household debt surged 11.4 percent on-year, or 125.5 trillion won ($106 billion), to reach 1.223 quadrillion won.Korea’s household debt is fast approaching its annual G
Editorial May 27, 2016
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[Rachel Marsden] Time to shove ‘free love’ generation out the door
The leftists who came of age in the counterculture revolutionary movements of the ’60s and ’70s are now in charge in both Europe and the U.S., and facing a populist backlash. They failed to learn the lessons of their own experiences, and it’s time for them to be dropkicked into the waste bin of history.In the wake of World War II and the defeat of Nazi Germany, there was a massive movement in Western nations against anything that smacked of authority. At first it was more social than political.I
Viewpoints May 27, 2016
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[Doyle McManus] Polls have Democrats in panic
Democrats hoped this presidential election would be a cakewalk. In their eyes, the presumptive Republican nominee, Donald Trump, spent most of the spring alienating big chunks of the electorate, beginning with women. Meanwhile, the presumptive Democratic candidate, Hillary Clinton, has run a careful, well-funded, well-honed campaign. What could go wrong?And yet, in a spate of reputable surveys Trump has suddenly erased the advantage Clinton had held all year. The average of major polls compiled
Viewpoints May 27, 2016
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[Editorial] Snowballing scandal
As anticipated, the case involving cosmetics firm Nature Republic’s CEO Jung Woon-ho is growing into a major corruption scandal that threatens to implicate incumbent prosecutors and judges.At the center of the case are allegations that Jung attempted -- through the help of lawyers and middle men -- to buy the influence of prosecutors and judges to get a lighter punishment for his illegal gambling charges.The scandal has already put a senior-judge-turned-lawyer into custody and forced a senior ju
Editorial May 13, 2016
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[Editorial] Obama in Hiroshima
U.S. President Barack Obama’s visit to Hiroshima later this month will have many implications for the world and South Korea as well.Most of all, the first visit by the incumbent U.S. leader to the place where it dropped an atomic bomb 71 years ago should reawaken the world to the need to get rid of the most menacing weapon of destruction ever made by mankind.In fact, Obama has tried to build nuclear disarmament and nonproliferation as a key legacy of his presidency. He kicked off his denucleariz
Editorial May 13, 2016
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[Mike Gonzalez] The real reason the IS successfully recruits fighters
Which country has the highest percentage of its Muslim population fighting for the Islamic State group as foreign recruits? Algeria? Afghanistan? Indonesia? Nope.Try Finland. No. 2 is Ireland, followed by Belgium, Sweden and Austria.What do these countries have in common, besides being European? They’re wealthy, democratic and have high levels of education, health and income. They also have very low levels of economic inequality.These findings appear in an eyebrow-raising report by the National
Viewpoints May 13, 2016
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[David Ignatius] Can Assad keep crossing the ‘red line’?
The Obama administration has another chance to enforce its botched “red line” against the use of chemical weapons in Syria, given new reports that President Bashar Assad’s regime has used nerve gas against extremist fighters and may be planning more such attacks. Obama’s decision not to retaliate against Assad’s use of chemical weapons in 2013 has become an emblem for his larger foreign policy, which critics argue hasn’t been forceful enough in Syria and other places. Obama justified his restrai
Viewpoints May 13, 2016
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[Robert B. Reich] The third way: Share-the-gains capitalism
Marissa Mayer tells us a lot about why Americans are so angry, and why antiestablishment fury has become the biggest single force in American politics today.Mayer is CEO of Yahoo. Yahoo’s stock lost about a third of its value last year, as the company went from making $7.5 billion in 2014 to losing $4.4 billion in 2015. Yet Mayer raked in $36 million in compensation.Even if Yahoo’s board fires her, her contract stipulates she gets $54.9 million in severance. The severance package was disclosed i
Viewpoints May 9, 2016
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[Christopher Balding] Why China is prone to property bubbles
Chinese markets have rarely looked more like Vegas casinos. In recent weeks, investors have driven up trading volumes in China to astronomical levels, betting on everything from rebar to eggs. China traded enough steel in one day last month to build 178,082 Eiffel Towers and enough cotton to make at least one pair of jeans for every person on the planet.These commodity markets aren’t gyrating purely because Chinese are inveterate gamblers. Government policies have made China especially prone to
Viewpoints May 9, 2016
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[Ram Garikipati] Government role in corporate debt restructuring
The hot topic in Korean corporate circles today is undoubtedly the moves by the government and state-run policy banks to bail out the ailing shipbuilding and shipping companies.Given the importance of these sectors in Korea and their prolonged financial distress, it is understandable that the government has pushed the panic button. The process of bailing them out has been set in motion with some sort of consensus reached between the Finance Ministry and Bank of Korea.BOK Gov. Lee Ju-yeol has cau
Viewpoints May 9, 2016
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[Albert R. Hunt] Get ready for U.S. politics to reach new lows
Americans may need to bring in the kids; the presidential election promises to get ugly, a race to the bottom.Hillary Clinton and Donald Trump both arouse strong passions, many of them negative. Both play tough.She is a policy wonk, but Trump has little interest in a wide-ranging debate on issues. In the Republican primaries, Jeb Bush, Marco Rubio and Ted Cruz all tried at times to challenge him on substance; he brushed them aside with pointed personal rejoinders. It worked remarkably well.But a
Viewpoints May 9, 2016
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[Robert Litwak and Robert Daly] How to freeze North Korea’s nukes
Pyongyang’s version of YouTube recently featured a computer-animated clip of a nuclear strike on Washington delivered via a North Korean intercontinental ballistic missile. The North, which a decade ago tested its first nuclear weapon, will soon cross another threshold that could make its video propaganda a genuine threat: It will be able to attack the U.S. homeland with nuclear-tipped long-range ballistic missiles.North Korea’s potential nuclear breakout is both quantitative and qualitative. Un
Viewpoints May 9, 2016
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[Noah Smith] Want economic growth? Empty the suburbs
Here’s a big economic and political thesis: The U.S. has run out of frontiers, both literal and figurative. At first, growth was fueled by expansion into the West, use of natural resources and the build-out of national infrastructure. In the early- and mid-20th century, an unprecedented explosion of new technologies -- electricity, automobiles, airplanes and others -- opened up the suburbs, which acted like a new frontier. More recently, the Internet and globalization, especially China, were fr
Viewpoints May 8, 2016
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[Adam Minter] Why quacks are thriving in China
There are more than 10,000 private hospitals in China, and their numbers -- and revenues -- are growing every year. Yet they’re also among the least trusted institutions in China, widely assumed to be dens of quackery, malpractice and shameless profiteering.So why do patients flock to them? One reason is that China’s top search engine, Baidu, accepts their advertising.That’s how Wei Zexi, a 21-year-old cancer patient, ended up spending more than $30,000 on what was advertised as an experimental
Viewpoints May 8, 2016
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[William J. Burns and Michael Mullen] Why combating corruption matters to everyone
Pope Francis has called corruption “the gangrene of a people.” U.S. Secretary of State John Kerry has labeled it a “radicalizer,” because it “destroys faith in legitimate authority.” And British Prime Minister David Cameron has described it as “one of the greatest enemies of progress in our time.”Corruption, put simply, is the abuse of public office for personal gain. As leaders increasingly recognize, it is a menace to development, human dignity, and global security. At the anticorruption summi
Viewpoints May 8, 2016
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