Articles by Jo He-rim
Jo He-rim
herim@heraldcorp.com-
[Editorial] Overseas consumption
Last year, the government tried every means to boost domestic consumption as exports ceased to play their traditional role of driving economic growth. It had to execute an 11 trillion-won supplementary budget to fuel domestic demand, as the outbreak of Middle East respiratory syndrome stifled consumer spending. The government also organized a Korean version of Black Friday, a 15-day shopping promotion campaign aimed at stimulating domestic consumption and attracting shoppers from abroad.Thanks
Editorial April 8, 2016
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[Christopher Balding] How bad is China’s debt problem, really?
For months now, China’s regulators have been warning about the dangers of rapidly expanding credit and the need to deleverage. With new plans to clean up bad loans at the country’s banks, you might conclude that the government is getting serious about the risks it faces.But there’s reason to doubt the effectiveness of China’s approach. In fact, it’s running a serious risk of making its debt problems worse.After the financial crisis, China embarked on a credit binge of historical proportions. In
Viewpoints April 8, 2016
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[David Ignatius] A testing year for American tolerance
Donald Trump tests the limits of campaign speech. He makes false statements and refuses to correct them. He attacks other religions and ethnic groups, inflaming domestic tension and foreign terrorist rage. He pledges to overhaul long-standing U.S. commitments in ways that frighten allies. He cavalierly predicts a “massive recession,” undermining confidence in the U.S. economy. When criticized, Trump adopts the stance of one of his beloved WWE professional wrestlers caught in the act: He throws u
Viewpoints April 8, 2016
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Behind China's $100 billion shopping spree
China’s Anbang Insurance Group Co., which has twice sweetened its offer to buy Starwood Hotels & Resorts Worldwide Inc., is engaged in a high-stakes bidding war with Marriott International Inc. to acquire the owner of the upscale Sheraton, Westin and St. Regis brands.Win or lose, the latest $14 billion bid unveiled Monday by an Anbang-led investor group makes this much clear: Chinese companies have launched an unprecedented buying spree, one far more ambitious than previous efforts focused prima
World Business April 1, 2016
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[Editorial] Carbonless Gapado
Daejeong-eup on Jejudo Island might not be familiar to most in Korea, though the district, part of Seogwipo City, has already embarked on building its reputation as an emerging mecca for education by native English speakers. However, apart from a group of renowned international schools in Daejeong, the southwestern town of Jejudo Island is drawing wide interest among global environmentalists for its green energy-oriented islet Gapado Island.The islet is the pilot model for the “Carbon Free Islan
Editorial March 25, 2016
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[Editorial] Oil and dollar
Recent volatility in the Korean won appears to be confusing a variety of parties such as currency dealers, exporters, importers and capital market investors. Korea’s central bank is also presumed to have been troubled by the unforeseeable situation.So far this year, the local currency has had a broader amplitude between strong and weak positons in a short period, being swayed by a tug-of-war between international crude oil prices and the U.S. dollar.Uncertainty seems to nearly be maximized about
Editorial March 25, 2016
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[David Ignatius] Europe, U.S. should fix woes together
“We have the Europe we deserve,” admitted French Prime Minister Manuel Valls on Wednesday. The question is how Europeans can build the security structures they need. The first requirement is solidarity, within each country and among the 28 nations of the European Union. This begins with better links with the Muslim communities, the angry, alienated people at Europe‘s table. Yes, Europe needs to be more welcoming, but that’s only half of it. Muslims need to embrace the obligations of European res
Viewpoints March 25, 2016
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Brazil's theater of the absurd
Acclaimed Brazilian actor and director Claudio Botelho is used to enthusiastic audiences. But bringing the house down mid-performance was not in the script earlier this week, when Botelho -- who is currently on stage playing a theater troupe impresario -- turned to the audience and ad-libbed a few quips about a “crooked former president” and a “thieving president” facing impeachment. In moments, scores of audience members were on their feet and shouting “There will be no coup!” while an opposing
Viewpoints March 25, 2016
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[David Ignatius] IS: Degraded but far from destroyed
U.S. Special Operations Forces working with a widening array of partners are slowly tightening their squeeze on Islamic State fighters in eastern Syria -- moving toward an eventual assault on the jihadists‘ self-declared capital of Raqqa.The Pentagon’s top priority in the campaign against IS remains disrupting external operations against potential targets in the U.S. or elsewhere. Sources say that over the past 18 months, U.S. drone strikes and other direct actions have killed close to 100 IS mi
Viewpoints March 11, 2016
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[Frederic S. Mishkin, Amir Sufi] The Fed shouldn’t watch the calendar
The U.S. Federal Reserve faces a daunting task as it moves away from near-zero interest rates: communicating its plans without unduly shaking up financial markets. The job would be easier if everyone involved recognized that the central bank’s actions must depend on the state of the economy, not on the calendar.Consider what happened in July 2015, when Chair Janet Yellen gave a policy speech in Cleveland. Out of almost 3,800 words on various subjects, the financial media focused on the following
Viewpoints March 11, 2016
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[Editorial] Deterring North Korea
North Korea raises tensions – usually by words and sometimes by provocative acts – at this time of the year, when South Korea and the U.S. hold annual joint military exercises. This year, the seasonal tension on the peninsula is being exacerbated by the U.N.-led international sanctions against the North’s recent nuclear test and launch of a rocket. Under the toughest-ever U.N. punishment of the North, the Philippines has already seized a North Korean ship. China, in a departure from its mediocre
Editorial March 8, 2016
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[Ian Shapiro, Nicholas Strong] Beyond the solution between Palestine and Israel
As the turmoil in the Middle East worsens, the fate of the Palestinians seems to have been put on the diplomatic back burner. Indeed, the two-state solution has been on life-support since Israel’s 2014 Operation Protective Edge in Gaza, despite U.S. Secretary of State John Kerry’s heroic efforts to revive it. Many in the region, and elsewhere, now believe that it is dead. But that raises a new problem. With statehood seemingly out of reach, it will be only a matter of time before large numbers o
Viewpoints March 7, 2016
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[Editorial] Real estate bubble
Some major enterprises have been rushing to sell their real estate assets -- including their headquarters -- as part of efforts to brace for uncertainties, besides streamlining their operations and workforces. This could be ordinary restructuring, as some insiders say, to save operating costs. But the timing is noteworthy as the real estate market is showing signs of sluggishness after a two-year bullish run. Housing prices skyrocketed through the second and third quarters in 2015, buoyed by the
Editorial March 7, 2016
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[Ryan T. Anderson] Allowing doctors to kill undermines solidarity
Physician-assisted suicide is often portrayed as a compassionate option for clear-thinking adults to end their lives peacefully. But the reality is much darker. Letting doctors prescribe deadly drugs can actually encourage acts of violence, often resulting from subtle social and psychological coercion. Physician-assisted suicide fundamentally changes the doctor-patient relationship, how medicine is practiced and how society views the poor, elderly or disabled. This is why it’s so disconcerting t
Viewpoints March 7, 2016
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Brazil’s Petrobras probe takes another twist
The detention of Brazil’s former President Luiz Inacio Lula da Silva marks a new stage in the corruption probe that has all but paralyzed the government for the past two years. Meanwhile, as that drags on, the economy keeps spiraling downward. One way or another, Brazil urgently needs to resolve the scandals and turn its focus back to the economy. Lula, whom U.S. President Barack Obama once called the world’s most popular politician, now tops the Who’s Who of Brazilian leaders caught up in the i
Viewpoints March 7, 2016
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