In The News

U.S. Business Leaders Demand Won's Rise, Screen Quota Cut

Kim Sung-mi September 25, 2003
Several major obstacles to a bilateral trade agreement between South Korea and the United States were challenged during a meeting this week in Washington. US and Korean business leaders called on Korea to grant greater access to foreign films by lowering its quota of domestic films from 40% to 20%, an issue which some called the "principal obstacle" to a bilateral trade deal....

China May Widen Yuan Trading Band Next Year, Report Says

September 25, 2003
Economists speculate that China will revalue the yuan by the time the Olympic torch is lit for the 2008 games. Under growing pressure from US business interests and other trade partners, China is likely to revalue its currency by making significant changes next year and possibly even floating the currency as early as 2008. "China wants to be a respectable global player," one senior...

Diplomatic Fantasyland: The Illusion of a Negotiated Solution to the North Korean Nuclear Crisis

Nicholas Eberstadt September 23, 2003
The world has been confronted with three alternative outcomes with concern to North Korea: They become a nuclear power; they dismantle their program through diplomatic negotiation; or they are forcibly disarmed. Unfortunately, the government in Pyongyang has repeatedly proved that it's not going budge easily. A nuclear weapons program in North Korea would be a disaster for both its...

Intel Insider Looks to Asia

Richard Waters September 21, 2003
Though it generates revenues equal to its next four competitors combined, Intel, the global leader in chip manufacturing, sees more and more competition coming from Asia. Intel CEO Craig Barrett argues that the next ten years will feature major upheavals in the capital intensive industry. To remain competitive, Intel must attract top talent, especially foreign nationals who have come to the US to...

Many Small Firms Want to Join Exodus

Kim Sung-mi September 19, 2003
Fed up with their country's strict regulations and contentious labor market, many of South Korea's manufacturing firms are moving their operations overseas. China, with its cheap labor and rapidly expanding market, is the most popular destination for Korean firms on the move. Many manufacturers not looking to relocate say they are considering switching to the service sector, prompting...

Majority of 20s, 30s Wish to Emigrate

Hong Seo-rim September 18, 2003
More and more young adults in South Korea are looking to relocate to Canada, America, Australia and elsewhere. This potentially massive emigration would seriously damage the Korean economy and lead to even greater political instability. Citing better educational possibilities, less unemployment, and more opportunities elsewhere, young Koreans are frustrated with the lack of possibilities within...

China Joins the Global Economy - Part Two

Deborah Davis September 17, 2003
In part one of this 2-part series, David Zweig explained the processes by which China joined the global economy. In part two, China scholar Deborah Davis discusses the prospects for China's continued economic growth. While incomes have improved and everyone's boat has risen, Davis says, so has the country's once-low income inequality. Increased differences in wealth, as well as...