Most Popular
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Opposition-led Assembly unilaterally passes bill to probe Marine's death
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Inflation eases in April, continues bumpy ride
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Golden chance to liquidate babies’ gold rings?
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Seoul to more than double military drones by 2026 to counter NK threats
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On May Day, labor unions blast Yoon's foreign nanny proposal
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[New faces of Assembly] Architect behind ‘audacious initiative’ believes in denuclearized North Korea
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Seoul alerts overseas missions to NK terror threats
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Russia sent more than 165,000 barrels of refined petroleum to N. Korea in March: White House
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Over 60% of S. Koreans support W100m childbirth incentive: survey
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‘Inside Out 2’ adds four new emotions, explores teenage life
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[Ron Klain] Obama shows high-stake gambling streak
Among the many misconceptions about Barack Obama is that he is cautious. In fact, it is hard to think of a modern president in recent times who has been more willing to take big risks, not because he is reckless, but because he is willing to suffer potential short-term setbacks to achieve a desired
Aug. 11, 2011
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[Aristides N. Hatzis] Lessons from Greece
For the past 18 months Greece has been the epicenter of the European sovereign debt crisis. Its enormous national debt (127 percent of GDP before the first bailout in May 2010, reaching 160 percent by the end of 2011) and its ever-expanding deficit (14 percent before the austerity measures) were so
Aug. 11, 2011
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[Simon Tilford] Eurobonds: Lifeboat for eurozone
LONDON ― The eurozone’s institutional weaknesses have been laid bare. The attempt to run a common monetary policy without a common treasury has failed. Investors do not know what they are buying when they purchase an Italian bond ― is it backstopped by Germany or not?We now know that the best credit
Aug. 10, 2011
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[Doyle McManus] Job creation is Obama’s biggest challenge
The central question facing Barack Obama’s 2012 reelection campaign is this: Can the president persuade voters to let him keep his job when so many of them have lost theirs?Last week, after another run of bad economic news, the president and his staff tried their best to sound upbeat. In public, the
Aug. 10, 2011
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[Virginia Postrel] Obama glamour can’t fix charisma deficit
One thing is clear in the aftermath of the debt-limit debate: U.S. President Barack Obama has lost his glamour. The alluring icon of hope and change has become just another pol, derided by his supporters as well as his opponents. As one headline succinctly put it: “Obama succumbs to the ways of Wash
Aug. 10, 2011
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[Editorial] Falling bank stocks offer a too-big-to-fail wakeup call
Bank of America and Citigroup stood out for all the wrong reasons in Monday’s market meltdown. Shares of the two banks led the decline amid new doubts about the quality of the assets buried on their balance sheets. Investors now believe that Bank of America’s net worth is only about a third of what
Aug. 10, 2011
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[Brahma Chellaney] Ethnic minority lands emerge as China’s Achilles heel
NEW DELHI ― In the face of spreading civil unrest among China’s Uighur population, the Chinese government’s love-fest with its all-weather ally, Pakistan, may be starting to sour. Indeed, the authorities in China’s Xinjiang province are charging that a prominent Uighur separatist that they captured
Aug. 10, 2011
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[Lee Jae-min] The Arctic Ocean in the heat
Icebergs, cold water and the Arctic Ocean: What else could be a better topic to cool off during the sizzling weather of August? Global warming has brought yet another issue to the table: navigation through the Arctic. As the icebergs melt and frozen swaths give way, new shipping routes emerge throug
Aug. 9, 2011
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[Peter Orszag] Four ways Congress can upgrade credit rating
Now that Standard & Poor’s has downgraded the U.S.’s “AAA” credit rating, it is important to respond boldly and, at the same time, lower expectations. The first step is for our political leaders to frankly acknowledge the problems at hand: The U.S. economy will face a hard slog for an extended perio
Aug. 9, 2011
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[Kim Seong-kon] Military absurdity for dual citizens
A poet once wrote, “All Korean men were once soldiers.” Not quite so. When I joined the ROK Army in 1971, nearly half of the young Korean men my age managed to be exempted from mandatory military duty according to statistics released in later years. Those whose parents had money and power must have
Aug. 9, 2011
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[Noah Feldman] Debt-deal disaster shows genius of democracy
Imagine you are a senior official of the Chinese Communist Party trying to figure out whether democracy is a good idea. The brinkmanship over raising the debt ceiling is a prime example for the argument that democracy is irrational, right? So say the commentators, one and all. Just think of the reli
Aug. 9, 2011
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[Editorial] S&P downgrade should make U.S. deal easier
Sunday was splendid for beach-goers and bikers. But it also brought nasty tail winds from the first credit downgrade in United States history:― For the half of U.S. households that own stocks, the news from Tel Aviv ― where Sunday is a trading day ― suggested a turbulent Monday as world markets dige
Aug. 9, 2011
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[Editorial] Leaders, central banks should stop the stampede
Financial markets can create their own dangerous dynamic, as Warren Buffett pointed out after Standard & Poor’s downgraded U.S. debt securities on Aug. 5. Buffett was on the mark. The downgrade triggered panic selling around the globe on Monday, leading to demands for more collateral from investors,
Aug. 9, 2011
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[Joseph E. Stiglitz] A contagion of bad economic ideas
NEW YORK ― The Great Recession of 2008 has morphed into the North Atlantic Recession: it is mainly Europe and the United States, not the major emerging markets, that have become mired in slow growth and high unemployment. And it is Europe and America that are marching, alone and together, to the den
Aug. 8, 2011
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[Dominique Moisi] What failed in Norway?
PARIS ― Japan in March 2011 and Norway in July 2011: any comparison between the madness of nature and the pure madness of man in Norway may sound artificial. Yet, confronted with their respective tragedies, Japan and Norway displayed a very similar combination of qualities and flaws.In both countrie
Aug. 8, 2011
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[Sung-yoon Lee] N.K.’s carrot-and-stick strategy
July is typically the time of year when North Korea makes peace overtures toward the United States. This is when it tries to rekindle expectations, reset deadlines and heal the previous year’s wounds. Last week, Pyongyang’s chief nuclear negotiator arrived in New York for talks with Stephen Bosworth
Aug. 8, 2011
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[Peter Allen, Barry Eichengreen and Gary Evans] Europe’s plan does nothing to reduce Greek debt
Postmortems of last month’s European Union summit meeting have now turned to why the Greek debt rescue failed to restore investor confidence in the country’s finances. Many reasons are advanced: the failure to communicate clearly; the complexity of the plan; the inability to coordinate with th
Aug. 8, 2011
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[Editorial] S&P’s dubious downgrade
We’ll find out soon enough what the markets will make of the decision by Standard & Poor’s to downgrade its rating of U.S. sovereign debt to AA+ from AAA. But the early response from the people who matter most in the controversy ― the Asian and European nations that Hoover up Treasuries ― seems to s
Aug. 8, 2011
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[Thomas Klassen] Learning from the labor dispute at SC First Bank
The bitter seven week strike at SC First Bank, the longest in the Korean banking industry, reveals deep divisions between workers and management. More importantly, it exposes critical choices that workers, employers and government must make in the next few years.The planned introduction of a perform
Aug. 8, 2011
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[Michael Boskin] The Euro-American debt dilemma
PALO ALTO ― Wealthy Europe and America, crown jewels of mixed capitalist democracies, are drowning in deficits and debt, owing to bloated welfare states that are now in place (Europe) or in the making (the United States). As Europe struggles to prevent financial contagion and America struggles to re
Aug. 7, 2011