The Korea Herald

[Lee Jae-min] Credit rating back in place

Sept 23, 2012

This is unusual. In just 18 days, all major international credit rating agencies have acknowledged that the Korean economy is in stable condition and the government is managing diverse risks well. On Sept. 14, the most conservative Standard & Poor’s followed the path of Moody’s Investors Service and Fitch Ratings by upgrading Korea’s sovereign credit rating from A to A+. At a time when the term “downgrade” is ringing in the ears of many people (Moody’s just threatened a downgrade of the U.S. sov
China and Japan must break out of history’s trap

Sept 23, 2012

Last week, demonstrators incensed by Japan’s purchase of the disputed rocky outcrops known as the Senkaku Islands filled Chinese cities for the biggest anti-Japanese protests since 2005. These mostly young men and women holding pictures of Mao Zedong reminded me of Mao’s speech at the founding of the People’s Republic of China in September 1949: the “Chinese people, comprising one-quarter of humanity,” Mao warned, “have now stood up,” adding that “ours will no longer be a nation subject to insul
This is a ‘fair dinkum’ Korean style ― Gangnam Style

Sept 23, 2012

Korean rapper Psy’s “Gangnam Style” hit No.1 on iTunes in Australia this week along with seven other countries including the United States. The song was first released in July making it YouTube’s most watched K-pop video in less than two months, viewed over 200 million times as of Sept. 18. Even the world’s great pop icon Britney Spears had a super time on “The Ellen Degeneres Show” emulating his horse-riding move, and the “Gangnam Style” music video was nominated under the category Best Video a
[Lee Jong-soo] Koreas’ common stance on history

Sept 23, 2012

The recent rise of territorial disputes in East Asia marks a perilous new phase in the international relations of the region. At the same time, it presents an opportunity to build peace among the various East Asian nations, particularly between the two Koreas. In fact, Dokdo and the integrity of Korea’s national historical record are among the few causes that can unite South Korea and North Korea with a common Korean rallying cry. It is ironic and regrettable that the two Koreas have been fighti
Mideast governments let down their people

Sept 21, 2012

Over many decades, tens of thousands of ordinary citizens in Middle Eastern states had been brutalized, arrested, tortured and killed before Mohamed Bouazizi, a fruit salesman, set himself on fire in Tunisia, triggering the Arab Spring.A unique pair of affronts set him off. A government inspector confiscated his fruit and slapped him in the face. Bouazizi was insulted, humiliated in public. And the inspector threatened his very livelihood.His death resonated in a way that none of the previous ab
[Robert B. Reich] Romney, Ryan turn off majority

Sept 21, 2012

Unemployment is still above 8 percent, job gains aren’t even keeping up with population growth, the economy is barely moving forward. And yet, according to most polls, the Romney-Ryan ticket is falling further and further behind. How can this be?Because Republicans are failing the central test of electability. Instead of putting together the largest possible coalition of voters, they’re relying largely on one slice of America ― middle-aged white men ― and alienating just about everyone else.Star
Obama, Romney trade substance on China

Sept 20, 2012

American voters deserve a substantive debate between the presidential candidates about how the U.S. can manage China’s rise as a powerful economic and geopolitical rival in the coming decades. Unfortunately, President Barack Obama and the Republican nominee, Mitt Romney, have so far been unwilling to have that discussion. Instead, the candidates have waged a war of words that gives voters oversimplified ― and sometimes false ― explanations of a vital and complex issue. Obama accuses Romney of se
[Nathan Gardel] Media and Arab awakening

Sept 20, 2012

LOS ANGELES ― The events of recent days in the Middle East only forewarn of future turmoil as the democratization of the media in the West meets the political awakening in the Arab world.The now-marginalized children of Facebook may have inaugurated the Arab Spring, which unleashed ― some say liberated ― anti-Western voices and actors long crushed by brutal autocrats. But now it is YouTube’s turn to roil the region. A 14-minute preview of a movie called “The Innocence of Muslims” ― posted by a m
Why does Beijing permit protests against Japan?

Sept 20, 2012

Anti-Japan protests have been expanding and escalating in China. This is a serious situation.Protesters railing against the recent nationalization of three islets of the Senkaku Islands in Ishigaki, Okinawa Prefecture, by the central government have taken to the streets of about 100 cities in China.In Beijing, protesters hurled rocks at the Japanese Embassy, while in other cities they attacked Japanese-affiliated business establishments. Some Japanese citizens have been assaulted in places where
Asian nations should beware of ‘riot’ in patriotism

Sept 20, 2012

Nationalism and protectionism are two of the most attractive qualities during dire economic times. European far-right political parties enjoyed widespread electoral success in the wake of the eurozone debt crisis. Even in a country in need of focus and economic revival such as the post-lost decade, post-financial crisis and post-March 11 earthquake Japan, long-term nationalist firebrand Shintaro Ishihara mustered enough support to force the government to distract itself from economic reform and
[Salman Haidar] Territorial turmoil for China and Japan

Sept 20, 2012

The long-running dispute between China and Japan about sovereignty over the variously named Senkaku (Japan) or Diaoyu (China) islands has entered a new, more active phase. These tiny specks of rock in the middle of the ocean attracted little attention until relatively recently. Their economic value was limited to providing an occasional platform for fishing boats and it is only a few years ago that prospects of finding gas and oil in the surrounding waters have added to their potential value.But
Census confirms U.S. middle class in dire trouble

Sept 19, 2012

The Census Bureau reported last week that middle-class income is continuing to shrink, top-tier incomes are growing and those at the bottom remained about the same. It wasn’t shocking news, confirming what dozens of independent studies have shown.What does come as a surprise is what politicians regard as middle income.On Friday, Republican presidential nominee Mitt Romney said “middle income is $200,000 to $250,000 and less.”That’s about where President Barack Obama has drawn the line, too. He w
[David Ignatius] Georgia’s viral political battle

Sept 19, 2012

WASHINGTON ― The Georgian government of President Mikheil Saakashvili, long a favorite of U.S. conservatives for championing pro-democratic “color revolutions,” is under fire for its own alleged suppression of a domestic opposition movement headed by a billionaire tycoon. Saakashvili was lauded as a reformer after he became president in 2004, following the Rose Revolution, and he has bravely challenged Russian hegemony in the region. But he has also shown a tendency to overreach, as in the impru
U.S. banks ignore Europe’s lesson on greed

Sept 19, 2012

Four years after the collapse of Lehman Brothers Holdings Inc. and the near-total paralysis of capitalism’s central nervous system ― the moment fear completely overwhelmed greed on Wall Street ― we are starting to see a few glimmers of hope. The good news: Several big banks have finally started taking steps to reform Wall Street’s out-of-control compensation system, which rewards bankers and traders with big bonuses for taking insane risks with other people’s money. The bad news: These banks are
We want Middle East justice ― but we’re tired of conflict

Sept 19, 2012

What do Americans want done with killers in Libya who murdered U.S. Ambassador Christopher Stevens and three others on Sept. 11, our national day of mourning?We want their heads stuffed into a burlap bag. We want to see that bag tossed into some town square, landing with hollow thunks, the bag opening, its cargo rolling along the ground.That’s revenge talking, and there’s nothing wrong with it. Americans were murdered. While our politicians make speeches about “resolve” and President Barack Obam