[Arvind Subramanian] Sino-American trade war benefits China's rivals

US President Joe Biden and his predecessor Donald Trump, the presumptive Republican nominee in November’s presidential election, are competing to portray themselves as tough on trade and China. Biden has already imposed a 100 percent tariff on Chinese-made electric vehicles, and Trump has vowed to impose a 200 percent tariff on Chinese cars manufactured in Mexico, along with a range of other protectionist measures affecting steel, solar panels, semiconductors and batteries. The European Un

May 27, 2024

[Yoo Choon-sik] Weak household income despite solid labor market

South Korea’s labor market remains strong even as the country’s economy went through one of the toughest years in history during 2023, according to official figures. It is fortunate, given that weak exports and depressed domestic demand have combined to bring gross domestic product growth down to the lowest in modern history last year except for crisis years. On a four-quarter moving average basis, the country’s employment rate for the whole population aged 15 years or older st

May 27, 2024

[Wang Son-taek] Limits and chances from the limitless alliance

Last week, the summit between Chinese President Xi Jinping and Russian President Vladimir Putin in Beijing was held amid global attention. The summit became famous because it could serve as the starting point for changing the current international order, namely the unipolar order with the United States as the hegemon, into a multipolar order with China and Russia sharing the same status and power as the United States. During the summit, the two leaders declared the beginning of a new era and sha

May 23, 2024

[Jennifer Huddleston] AI, privacy rules meant for Big Tech

As lawmakers and regulators in the US consider policy born of their Big Tech concerns such as data privacy and artificial intelligence, they should carefully consider how such changes could end up trampling the small and midsize businesses that drive innovation and competition. While policymakers may have Google and Facebook in mind, the actual policies could unintentionally create new regulatory burdens that could deter investment in smaller businesses and prevent new companies from emerging. F

May 23, 2024

[Richard K. Sherwin] King Trump on trial

The drama starring former US President Donald Trump that is now playing out in a New York City courtroom is more than just a criminal trial. It is a contest between competing conceptions of power: a liberal-democratic system of law versus an illiberal conception that locates the source of authority outside the current legal system. According to the conventional view, apart from the fact that for the first time in American history the defendant is a former president (and current presidential cand

May 22, 2024

[Kim Seong-kon] If Edward Said still lived today

Recently, pro-Palestine protests have been erupting across American college campuses. Ever since Columbia University ignited the protest on April 18 by setting up an encampment and occupying Hamilton Hall, many other elite American universities have joined the protests. At the University of Michigan, protestors even waved Palestinian flags. The protestors demand the US government to withdraw its support of Israel in order to stop the genocide in Palestine. On Oct. 7, 2023, the Palestinian milita

May 22, 2024

[Takatoshi Ito] The innocent bystanders of college protests

In 1968, protests against the Vietnam War swept through American college campuses and, in some cases, turned violent. At Columbia University, student protesters were angry about several issues, as James Simon Kunen chronicled in “The Strawberry Statement,” a series that first ran in New York magazine and was later published as a book. The protesting students opposed Columbia’s ties with the Institute for Defense Analyses, a think tank researching war strategy, and the universit

May 21, 2024

[Sandeep Vaheesan] The gig economy vs. America's workers

Uber, Lyft, DoorDash, Instacart, and other gig corporations are once again seeking the law’s blessing in the United States for their unscrupulous employment practices. Ahead of November’s election, these firms have proposed several ballot initiatives in Massachusetts that would empower them to classify drivers and delivery people as independent contractors rather than employees. (The Open Markets Institute, where I work, filed an amicus brief supporting a challenge to the constitutio

May 21, 2024

[Yoo Choon-sik] KDI’s warning against Fed-tied policy

The Korea Development Institute’s revised economic forecasts and comments, released last week, contained sources of confusion for investors regarding the central bank’s monetary policy direction for the rest of the year because it warned against tying the country’s interest rate policy too closely to that in advanced economies. In its biannual event, South Korea’s most influential research institute upgraded this year’s economic growth forecast to 2.6 percent from 2

May 20, 2024

[Robert J. Fouser] Social attitudes toward language proficiency

Defining proficiency in a second language is one of the most controversial topics in second-language education. In the past, near-native proficiency was considered the ideal, but that has changed with the spread of communicative language teaching beginning in the 1980s. CLT focuses on individual learner needs rather than a definition that can be applied across groups of learners. Second-language teachers understand this, but society at large often has complex and conflicting ideas about second-l

May 17, 2024

[Wang Son-taek] Nuclear proliferation and the US national interest

It is shocking to see the claims raised by former US Deputy Assistant Secretary of Defense Elbridge Colby in recent interviews with Korean media. In particular, the argument that South Korea should consider its nuclear armament is very disappointing. Although such claims have been made intermittently, this time is uncomfortable and scary because he is known to be one of the best elites in the United States who studied at Harvard College and Yale University, and one of the strong candidates for a

May 16, 2024

[Doyle McManus] A lesson from Biden and Trump

A poll published by the Economist this month included a finding that was striking yet unsurprising: Almost 7 in 10 Americans believe things in the country have spun out of control. That's a problem for President Joe Biden, who campaigned in 2020 offering a return to normalcy after four years of chaos under Donald Trump. Biden promised, in effect, to Make America Normal Again, but "normal" never quite returned. The COVID-19 restrictions ended, but the ensuing recovery brought high

May 16, 2024

[Kim Seong-kon] The last thing we learn in this world

We keep learning until we breathe our last breath on earth. No matter how old and erudite we are, there are always new things we need to learn. Learning continues even after graduating from school and becoming a grown-up. Many things around us constantly change and we have to keep up with them. Our language is a good example. The usage of vocabulary or verbal expressions constantly changes and we need to catch up. When I taught at Brigham Young University in the US in the 1990s, my colleague, pr

May 15, 2024

[Antara Haldar] The psychologist who convinced economists that to err is human

The recent passing of psychologist and Nobel laureate Daniel Kahneman is an apt moment to reflect on his invaluable contribution to the field of behavioral economics. While Alexander Pope’s famous assertion that “to err is human” dates back to 1711, it was the pioneering work of Kahneman and his late co-author and friend Amos Tversky in the 1970s and early 1980s that finally persuaded economists to recognize that people often make mistakes. When I received a fellowship at S

May 15, 2024

[Grace Kao] American racism against Stray Kids

As a K-pop fan, I was delighted that Stray Kids were attending the Met Gala on May 6, 2024. K-pop fans generally and Stays (the name of Stray Kids’ fandom) specifically celebrated the increasing inclusion of K-pop. Perhaps the US media now took K-pop seriously and would treat its artists respectfully. We were wrong. A few members of the paparazzi’s treatment of Stray Kids was shameful and racist, and embarrassed me as a fellow American. However, none of it was surprising and all of i

May 14, 2024

[Lilja Dogg Alfredsdottir] How to close the gender wage gap

Last year, a 24-hour women’s strike was organized to protest the country’s gender pay gap and gender-based violence. Thousands gathered in central Reykjavik to demonstrate their solidarity. For the 14th year running, Iceland (91.2 percent) takes the top position in the Global Gender Gap Report 2023. It also continues to be the only country to have closed more than 90 percent of its gender gap. The Economist’s glass-ceiling index rates Iceland as the best place in the world for

May 14, 2024

[Yoo Choon-sik] Promises for living cost problems

President Yoon Suk Yeol promised to do his best to control consumer prices as he resumed activities to interact directly with the public on Friday for the first time after the ruling party’s crushing defeat in the early April parliamentary election. The government also announced fresh measures to help counter the surging cost of living, led by rising food prices. This came a day after Yoon apologized for failing to solve the issues people face during his first news conference in nearly two

May 13, 2024

[Ken Taylor] Reshaping the discourse on heritage

The focus of the proposal by Korea‘s Cultural Heritage Administration to shift the emphasis of the Korean system on perceptions of heritage is a landmark decision. Notably, it reflects international scholarly discourse and professional best practice thinking in the field of cultural heritage and natural heritage management in that over the last thirty years or so, the concept of heritage, its management processes and the very role it plays in the social arena have gone through significant

May 13, 2024

[Wang Son-taek] Problems in press freedom and democracy

The 2024 World Press Freedom Index, released recently by Reporters Without Borders, an international organization for monitoring press freedom, contains a severe warning to democracy in Korea. In the index, which reflects the media situation in 2023, South Korea ranked 62nd out of 180 countries surveyed. Korea received its worst report card since it ranked 69th in the 2009 index and 70th in the 2016 index. It was 43rd in the 2022 index, when the index methodology was changed significantly, but f

May 9, 2024

[Andrew Sheng] Protecting trade is protecting yourself

Until 2016, it was almost taken for granted that free trade is good for everyone. That was before Donald Trump started the tariff war on Chinese imports, which his successor Biden turbocharged with even more sanctions against individuals, companies and countries. The IMF has estimated that since 2019, the number of new sanctions imposed yearly has tripled to over 3,000. The European Union is about to impose Carbon Border taxes on imports, which will further add costs and administrative burdens o

May 8, 2024