South Korea: "The dangers of budget crises have been loud and clear. Korea should ratify the U.S. FTA to prepare for a even fiercer trade war"

op-ed from joongangdaily......

"Korea must readjust its strategy and realign its ammunition accordingly. The export-driven economy inevitably will suffer from shock waves from the U.S. and EU, but it must do all it can to lessen the damage. Most imperative is stability in the currency market. Authorities must keep a close watch on the volatility in the foreign exchange market. Once the market regains calm, the government should accelerate reform measures. 

Politicians should lay down their arms race over welfare policy ahead of next year’s elections.

The dangers of budget crises have been loud and clear from the U.S. and EU. The legislature should ratify the Korea-U.S. free trade agreement to prepare for a even fiercer trade war amid a slowdown in the global economy. Restructuring problematic housing loans, savings banks and project financing should also be tackled".........READ MORE