The Korea Herald

[Kim Seong-kon] Haunted by phantom of the past

Jul 17, 2012

South Korea is a country where evil specters of the past are constantly reappearing during the election season. When the Roh Moo-hyun administration was launched in 2002, for example, radical leftist politicians attempted to shut down Seoul National University as if the first-rate university was the axis of evil. Similarly, a high-ranking member of the Democratic United Party recently declared that if his party won this year’s presidential election, he would abolish Seoul National University as
Bringing capital controls under control

Jul 16, 2012

Until recently, respectable opinion frowned on all barriers to money flowing across borders. Today, the old thinking has been overturned. Sometimes, it’s agreed, capital controls are necessary. The old consensus was wrong and won’t be missed. The new view, however, lacks clarity and, when it comes to application, effective oversight. Capital controls may sometimes be necessary ― but they are always dangerous and open to abuse. These policies need to be better considered and more carefully superv
[David Ignatius] Neurotic U.S.-Pakistan relationship

Jul 16, 2012

WASHINGTON ― Why did it take Washington nearly eight months to apologize for the deaths of 24 Pakistani soldiers? But you know the answer: It’s because the U.S. and Pakistan have the most neurotic, mutually destructive “friendly” relationship in the world. Secretary of State Hillary Clinton finally said the magic words in a July 3 phone call with her Pakistani counterpart: “We are sorry for the losses suffered by the Pakistani military.” A tepid apology, but enough that the Pakistanis agreed to
Boots were made for talking, about who we are

Jul 16, 2012

If you have been reading newspapers or websites, listening to the radio or watching TV over the past few weeks, you have probably heard the news: “You CAN judge a person by his shoes.” Beginning in mid-June, word of a psychology article titled “Shoes as a source of first impressions” began circling the globe. Describing an experiment by researchers from the University of Kansas and Wellesley College, many reports declared that shoes alone reveal just everything about the wearer’s personality. “O
Embracing detente: Korea-Japan relations

Jul 16, 2012

The relationship between Tokyo and Seoul is in the news again ― and for all the wrong reasons. Last week, in an apparent sign of bilateral warming, a report from Korea’s Yonhap News Agency indicated that Japan and Korea were on the cusp of formalizing a longstanding commitment to share intelligence and security information on North Korea’s WMD programs. The story claimed that government sources in Seoul were prepared to sign off on a General Security of Military Information Agreement (GSOMIA) wi
[Shashi Tharoor] Frugal innovation pervades India

Jul 16, 2012

NEW DELHI ― India’s sliding economy has inspired gloom and doom far and wide, but increasingly bearish sentiment is misplaced. India still offers hope, but, to understand why, you have to leave macroeconomic indicators aside and go micro. To take one example: Google the phrase “frugal innovation,” and the first 20 search results all relate to India.Indian companies have long recognized the opportunities in meeting previously overlooked demand at the “bottom of the pyramid.” Shampoo sachets origi
[Malcolm Fraser] Is Obama playing a China card?

Jul 15, 2012

MELBOURNE ― According to the United States Federal Reserve, Americans’ net worth has fallen 40 percent since 2007, returning to its 1992 level. Progress towards recovery will be slow and difficult, and the U.S. economy will be weak throughout the run-up to November’s presidential and congressional elections. Can any incumbent ― and especially President Barack Obama ― win reelection in such conditions?To be sure, the blame for America’s malaise lies squarely with Obama’s predecessors: Bill Clinto
Let’s make unforgettable memories at Yeosu Expo

Jul 15, 2012

The Yeosu Expo opened almost two months ago. The number of visitors so far is 2.8 million, or 52,000 per day on average. The turnout is much lower than hoped. It falls far short of the 8 million targeted by the Yeosu Expo Organizing Committee.The committee is doubling efforts to attract visitors during the one month left before the finale. It says visitors will enjoy more diverse and interesting programs during this period. For example, the Expo Pop Festival takes place at 8 o’clock every night,
Disney’s fantasyland meets North Korea’s

Jul 15, 2012

North Korea’s brushes with Disney tend to be less than magical. The Kim Dynasty’s first foray to the place where dreams come true ended in a nightmare. In 2001, the brother of leader Kim Jong-un tried to enter Japan to visit Tokyo Disneyland. His Dominican Republic passport and lack of Spanish skills piqued the interest of customs officers, and was an endless source of embarrassment for their Dear Leader father, Kim Jong-il, who died in December. Eleven years after his brother’s attempted visit
[Daniel A. Bell] Why Chinese regime is not facing imminent collapse

Jul 15, 2012

BEIJING ― The purge of Chongqing’s Party chief, Bo Xilai, is China’s most serious political crisis in recent decades. What seemed like a relatively stable system of political transition ― two five-year terms for top leaders ― has been thrown into chaos.Or so we are told. Such predictions about the collapse of China’s political system have been constantly repeated since the suppression of the pro-democracy uprisings in 1989. But the system didn’t collapse then, and it won’t collapse now.The key r
Could we have wars without manipulation?

Jul 13, 2012

Testifying before a Senate committee a few months ago, U.S. Secretary of State Hillary Clinton lamented that America was “in an information war, and we are losing that war.” This week, she blew a fuse at the “Friends of Syria” meeting in Paris, saying that Russia and China should “pay a price” for not supporting regime change in Syria.Here’s a thought: How about using the power of truth to get things done rather than cover and manipulation?Russia and China aren’t following America’s script for o
[Joel Brinkley] An irredeemable U.N. council

Jul 13, 2012

You should probably sit down before you read this.Syria has put its name up for membership on the United Nations Human Rights Council, and it will most likely win a seat.Yes, Syria, the state that has slaughtered close to 15,000 of its own people over the last 16 months, including hundreds of women and children. It’s on track to take a seat on the United Nations body whose mission is to uphold human rights around the world.The United States happened to find Syria’s name on a roster of candidates
Harness small firms’ potential to revitalize Japan

Jul 13, 2012

Small and midsize companies account for 90 percent of domestic enterprises, and are a huge potential source of technological and human capital. We hope they will play a significant role in kick-starting the economy.A panel of the Economy, Trade and Industry Ministry formed to investigate the future of small and midsize businesses recently announced its proposals for revitalizing this sector. The panel’s report compiled the views of workers at small and midsize companies including managers, femal
Trust in banks shaken again

Jul 13, 2012

Bolstering public trust in banks is once again on the agenda following the Libor inter-bank rates scandal now spreading in the Western banking industry. When will banks that are too big to fail ever learn?A prime banking failure from the drying up of credit, after balance sheets were gutted on reckless bets, was exposed as a result of the derivatives fiasco of 2008. Companies were left stranded. Joblessness rose, asset values fell. Trust in banks hit the depths. It raised this poser: Of what use
The health of America

Jul 13, 2012

Health care reforms put forward by U.S. President Barack Obama have passed constitutional scrutiny. In an anxiously awaited, bitterly divided 5-4 ruling, the U.S. Supreme Court ruled the week before last that the bulk of the bill, put into law in 2010, can go into effect.The decision upholds the most important piece of social legislation put forward in the United States for decades, but in a sad commentary on the static perspective of many Americans, the overwhelming majority of the commentaries