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  • 2019.11.11 Monday
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  • by スポンサードリンク


South Korea into the Sand


 Due to Samsung’s global failure of the Galaxy Note 7 and Hyundai’s repeated labor strikes, the South Korean economy is suffering a great downturn. In addition, President Park Geunhye has been neutered by a political scandal. I believe that it’s only a matter of time before South Korean will go into default again.      


 From July to September, the growth rate of South Korea’s manufacturing industry dropped to minus 1%, the worst in 7 and a half years. Experts predict that, from October to December, the situation will become even more severe.    


 According to a survey conducted by a research center “Research & Research”, the majority (51.4%) of South Koreans believe that the South Korean economy is in a serious crisis, and 39.8% feel that they are in somewhat of crisis. In total, 90.4% of citizens recognize that South Korea is now facing an economic downturn.     


 Nevertheless, the South Korean government cannot take any measure against the worsening economic situation because its president has completely lost her credibility due to a political scandal that she had repeatedly divulged official documents to her close friend.      


 A Gallup survey conducted in South Korea on October 26th and 27th shows that her approval rating was only 14%, the lowest since her inauguration, whereas disapproval rating was 78%. She has now become totally dead politically and is likely to remain so for the remaining 1 year and 4 months of her term.      


 Former South Korean presidents have historically taken a future-oriented view toward Japan rather than dwelling on the past, at least at first. But, once their approval ratings dropped, they tended to take a nationalist stance toward Japan to garner support form citizens. On the other hand, she has taken a clear anti-Japanese position from the beginning. Therefore, she has nowhere to go to raise her approval ratings. Many South Koreans are currently demanding she resign as president.      


 If she resigns, during the resulting political vacuum, there will be no measures to fix the South Korean economy, which will deteriorate further.      


 If she doesn’t resign beforehand, the next presidential election will be held in December 2017. And, in February 2018, the Winter Olympics is scheduled to take place in Pyeongchang, South Korea.      


 The 2017 Asian Winter Games will take place in Sapporo, Japan. I believe that Japan should prepare for the possibility of the 2018 Winter Olympics being moved to Japan, prior to the Tokyo Olympics in 2020.      




  • 2019.11.11 Monday
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  • 19:03
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  • by スポンサードリンク


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