The Korea Herald

Making the most of educational investment

Mar 3, 2011

Korean college system needs market forcesThe following was contributed by Daniel E. Suh, professor of economics and finance, Graduate Program for Technology and Innovation Management, Pohang University of Science and Technology (POSTECH). ― Ed. Daniel E. SuhIn the first class of my investment course, I always toss out a question to my students: Have they ever made any investments? For a moment, t
Feckless inaction on piracy off Somalia coast

Mar 3, 2011

The Obama administration put out a disturbingly weak statement last week after the latest piracy outrage off the coast of Somalia. Four Americans vacationing on a 58-foot yacht died during a standoff between a U.S. warship and the pirate crew that seized their vessel.Secretary of State Hillary Clinton called the act deplorable, which it was, but what did she urge? More “decisive action” by the “in
Libya uprising requires low-key U.S. response

Mar 3, 2011

The Obama administration predictably is taking heat from conservatives about its restrained response to the crisis in Libya. There are even calls for a U.S. military response to hasten dictator Muammar Gadhafi’s departure. While well meaning, these critics seek short-term action that ignores substantial longer-term consequences.The administration’s initial restraint was appropriately designed to p
[Edward Glaeser] China: Not a carbon copy of the U.S.

Mar 3, 2011

If per capita carbon emissions in China and India rose to car-happy U.S. levels, global emissions would increase by 127 percent, according to the International Energy Agency. If their emissions stopped at the levels found in hyper-dense Hong Kong, world emissions would go up less than 24 percent. As the Asian economies prosper, the United States should hope that they embrace the skyscraper more th
[Peter Singer] Global justice and military intervention

Mar 3, 2011

MELBOURNE ― The world has watched in horror as Libya’s Colonel Muammar el-Gadhafi uses his military to attack protesters opposed to his rule, killing hundreds or possibly thousands of unarmed civilians. Many of his own men have refused to fire on their own people, instead defecting to the rebels or flying their planes to nearby Malta, so Gadhafi has called in mercenaries from neighboring countries
[Michael Waldman] Obama needs Clinton rerun for budget gain

Mar 3, 2011

History doesn’t repeat itself, but it rhymes, Mark Twain is thought to have said. Democrats are hoping that’s true.Fifteen years ago, fierce budget fights between Bill Clinton and the Republican Congress forced the government to shut down twice. The conflict boosted the president, revitalized his vision for government and branded Republicans as extreme.Now, as battles loom over the debt ceiling an
[Hans-Werner Sinn] Why European Union needs automatic haircuts

Mar 3, 2011

MUNICH ― Having already agreed to double the AAA-rated lending capacity of the European Financial Stability Facility, the special fund created by eurozone states to provide assistance to troubled member economies, European Union countries are now discussing the conditions under which the EFSF’s funds will be made available. The crucial issue is the extent to which creditors will have to participat
Consequences of Mideast democratic tsunami

Mar 2, 2011

In recent weeks, dictators across the Middle East and North Africa must have been afflicted with a severe case of agoraphobia ― the morbid fear of open spaces. After all, the groundswell of antigovernment protests have all occurred in squares ― Tunis’ Nov. 7 Square, Cairo’s Tahrir Square and, more recently, Tripoli’s Green Square.By far, Libya’s experience has been the most tragic. On Tuesday, Col
Protecting children from abuse by parents

Mar 2, 2011

The Justice Ministry’s Legislative Council on Feb. 15 handed Justice Minister Satsuki Eda a recommendation that the civil law be revised so that parental prerogatives can be suspended for up to two years if necessary. The proposed step will make it possible to protect children against abuse and neglect by their parents ― such as violence, molestation, refusal to give meals and medical neglect ― mo
[William Pesek] Indian inflation above 9% shows bankers are no longer gods

Mar 2, 2011

Duvvuri Subbarao knows a thing or two about inflation. India’s central-bank head defeated price gains exceeding 10 percent twice in the past two years alone.Now, Subbarao is back at battle stations as a chorus of traders say he’s behind the curve. It’s hard to argue with the wisdom of markets with Indian inflation back above 9 percent, the highest among Asia’s 10-biggest economies.Yet the Reserve
[David Ignatius] A look into Hezbollah’s play of shadows

Mar 2, 2011

BEIRUT ― To visit Hezbollah officials, you turn left off the airport road, just past a billboard that shows Iran’s President Mahmoud Ahmadinejad coyly waving at motorists. You then enter a neighborhood known as the “southern suburbs,” which is the dense street fortress of the Shiite militia. Here lie the headquarters of the group that now forms the strongest bloc in Lebanon’s parliament. It’s an u
[Park Sang-seek] Implications of Arab democracy for the U.S., China

Mar 2, 2011

After an extensive tour of Africa in February 1960, Harold Macmillan, then British Prime Minister, made the famous “wind of change” speech. He said: “The wind of change is blowing through this continent, and whether we like it not, this growth of national consciousness is a political fact.”If the term “national consciousness” is replaced by “democratic consciousness,” the same kind of wind is blow
[Matthew Lynn] Euro saviors flinch at place in history’s dustbin

Mar 2, 2011

The euro wasn’t just meant to provide economic harmony. It was supposed to ensure political stability as well. Neither has happened and a generation of politicians will pay for it.Parties win and lose elections all the time. But it is rare to be destroyed as completely as Fianna Fail was in Ireland on the weekend. The party that has dominated Irish politics since independence in the 1920s was push
[Daniel Kurtzer] The best U.S. policy for the Middle East

Mar 2, 2011

Does the U.S. have the assets, influence and will to affect the course of Middle East politics?At first glance, the answer appears self-evident given the extent of the country’s involvement in the region. Since the 1970s, the U.S. has been seized with Arab-Israeli peacemaking and has given Egypt more than $70 billion in aid. The U.S. has deployed military assets in the Persian Gulf to secure oil e
Finding common ground with Chinese tourists

Mar 1, 2011

In the past decade Hong Kong and Macau have benefited substantially from mainland Chinese policies of letting an increasing number of tourists into the two cities. Many believed that mainland tourists were part of the contributors that helped lift Hong Kong’s economy out of the abyss following the 2003 SARS (severe acute respiratory syndrome) crisis. Mainland travellers, especially high rollers, a