Most Popular
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Tensions heighten ahead of first president-opposition chief meeting
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Seoul to provide housing subsidy to married couples with newborns
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[KH Explains] No more 'Michael' at Kakao Games
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Rapper jailed after public street fight with another rapper
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Woman gets suspended term for injuring boyfriend with knife
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Samsung chief bolsters ties with Germany’s Zeiss
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Nominee for chief of anti-corruption body pledges 'independence, effectiveness'
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Med schools expect 1,500+ new admission slots next year
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NewJeans pops out ‘Bubble Gum’ video amid troubles at agency
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KT launches new mobile plans for foreign residents
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[Nouriel Roubini] How to prevent a depression
AMSTERDAM ― The latest economic data suggests that recession is returning to most advanced economies, with financial markets now reaching levels of stress unseen since the collapse of Lehman Brothers in 2008. The risks of an economic and financial crisis even worse than the previous one ― now involv
Sept. 25, 2011
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[William Pesek] Underwear model shows an economy how to grow
So this is what it has come to for Japan Inc.: a future in underwear instead of cars, color TVs or industrial robots. Long before 2010, when China surpassed it to become Asia’s biggest economy and Apple Inc. unleashed the iPad, Japan fancied itself a nation fated for global primacy. Its technology w
Sept. 25, 2011
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Why identifying a bubble is so much trouble
We seem to be surrounded by “bubbles” ― tech stocks, real estate, and now maybe sovereign debt. You might expect that any textbook would have a precise definition of this phenomenon; some set of characteristics that distinguish sensible high prices in good times from prices that are “too high” or in
Sept. 25, 2011
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[Marc Flandreau] Getting to yes (again) with Germany on euro crisis aid
GENEVA ― Europe’s slow-motion sovereign-debt crisis may appear unique, but it is not. Just a few decades ago, Europe had the Exchange Rate Mechanism, which collapsed during a crisis very much akin to the one afflicting Europe today. Will the outcome this time be different?The ERM was an arrangement
Sept. 25, 2011
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[Zhang Monan] Value cooperation over cash with Europe
Whether China and other BRICS members will give a helping hand to European countries that have been severely plagued by their looming debt crisis is now a hot topic around the world. China’s purchase of European debt would not be a show of generosity. To help extricate hard-hit European countries fr
Sept. 23, 2011
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[Bennett Ramberg] A watershed doctrine for America
LOS ANGELES ― As the United States stumbles through its economic challenges at home, the pressure of world events will not subside. But America’s ability to address them has changed. Its fiscal weakness limits its ability to act as global policeman. Despite the relatively costless overthrow of the Q
Sept. 23, 2011
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ASEAN should heed lessons from EU crisis
Although five major central banks have recently agreed to provide dollars for the European banking system in an effort to avert a funding crisis, the southern European countries are still not immune from a possible financial crisis that could send a tidal wave across the entire continent. The Europe
Sept. 23, 2011
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Taiwan must choose to build home-grown defense industry
Now it is almost certain that the U.S. will refuse Taiwan’s request for the sale of the new F-16C/D fighter jets for Taiwan’s self-defense. While an official announcement on the U.S. Congress’s decision is expected next week, an unnamed senior congressional aide was widely quoted as saying that the
Sept. 23, 2011
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Japan’s ruling party must present state vision
The Democratic Party of Japan must deepen debate on constitutional reform and present the vision of the state it aims to establish.In the Diet, Prime Minister Yoshihiko Noda said, “Amid the mountain of pressing issues we face, I don’t think constitutional revision is a top priority on the policy age
Sept. 23, 2011
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[Peh Shing Huei] Retired leaders’ vanishing act
Former premier Zhu Rongji’s new book detailing his years in office created a media stir and strong reader interest when it went on sale early this month.But the man himself was nowhere to be seen.There were no book tours and media interviews and Zhu, 83, did not make a public appearance to promote h
Sept. 23, 2011
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Israel-Palestine face-off at the United Nations
The looming United Nations vote on Palestinian statehood is not a cause for celebration ― for Palestinians or anyone else. It is merely further evidence of the utter stalemate of the Israeli-Palestinian peace process, which once promised to deliver a two-state solution but which during the last few
Sept. 22, 2011
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[Mohamed A. El-Erian] Countering the contagious West
NEWPORT BEACH ― Imagine for a moment that you are the chief policymaker in a successful emerging-market country. You are watching with legitimate concern (and a mixture of astonishment and anger) as Europe’s crippling debt crisis spreads and America’s dysfunctional politics leave it unable to revive
Sept. 22, 2011
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Strong countries, not Greece, should ditch euro
Europeans can’t say they weren’t warned. For a decade before the euro was launched, critics ― and many economists ― argued that one currency wouldn’t fit all, or even most, of the nations of the European Union. The unfolding euro-area crisis is proof that the critics were right. Now it’s up to the s
Sept. 22, 2011
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[Ron Klain] Middle-class Americans suffer in silence, for now
President Barack Obama’s proposed tax on millionaires has restored the issue of “class warfare” to the forefront of politics. The new tax plan follows a week of intense campaigning by the president for his jobs bill, and of considerable attention devoted to a Census Bureau finding that poverty rose
Sept. 22, 2011
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[Yang Sung-chul] Two beggars in classic tragedies
Even in this age of homo electronicus, the eternal question of love and hate or good and evil never ceases to lose its flame. One critical ingredient of a classic is to arouse in us such an emotion from the innermost depth of our heart.Filial ingratitude seems to be the overriding theme of both Soph
Sept. 22, 2011
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[Joel Brinkley] Obama’s Middle East dilemma
As Palestinians head to the United Nations this week, President Obama faces one of the most excruciating dilemmas of his presidency, a predicament partly of his own making.After four decades of failed negotiations with Israel, Palestinians are hoping the U.N. will finally grant them a sovereign stat
Sept. 21, 2011
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[Noah Feldman] Abbas’ U.N. offensive might be a step toward peace
Just what is Palestinian leader Mahmoud Abbas thinking? At the new United Nations session, he has announced, the Palestinian National Authority will ask the Security Council to recognize Palestine as a state. The application will be dead on arrival: the U.S. has already said it will veto. Abbas, in
Sept. 21, 2011
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[David Ignatius] Mistrust among European banks
WASHINGTON ― Global financial markets depend on trust. So it wasn’t a good sign when Laurence Parisot, the head of the French business federation known as “Medef,” last month charged that reports about the weakness of French banks were an American plot. “There has been a kind of psychological warfar
Sept. 21, 2011
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[Glenn Hubbard] Short-term stimulus won’t help U.S. in the long run
Joblessness and sluggish growth are hampering the economic recovery and Barack Obama’s political standing. Raising taxes on the rich, as the president called for on Monday, isn’t going to turn things around. To get a sense of how severe the situation is, consider this: Bringing the unemployment rate
Sept. 21, 2011
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[Frida Ghitis] Waiting for revolution in Cuba, Burma, N.K.
For all the luxuries they enjoy, dictators live in a state of constant fear.Without the trust of their people they must always protect themselves against real, imagined, or even potential plots. They may be paranoid, but they’re right to be afraid. That’s true now more than ever.These are scary time
Sept. 21, 2011