communist program quoting the New Deal
2021-08-15
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congratulatory address for Moon Jae In 2021 Independence Day
The Korean version of the New Deal, which will invest 220 trillion won by 2025, is a roadmap for becoming an innovative and inclusive country centered on people and a development strategy for a country that will take a new leap forward. The government has made the Human New Deal another pillar of the Korean version of the New Deal, along with the Digital New Deal and Green New Deal. We will establish a social safety net, such as the abolition of employment insurance and living allowance support standards for all citizens, and lead the transition to digital and green through investment in people.
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The New Deal is interpreted as a bold intervention by the U.S. government in the market economy during the Great Depression and as a intervention to free competition to rebuild the Great Depression.And what's the Human New Deal?I mean, you're going to intervene there, too.
In his congratulatory speech last year, he said, "The Korean version of the New Deal is a new social contract for co-prosperity, a promise to strengthen employment and social safety nets, increase investment in people, and achieve prosperity and co-prosperity."What is a nation centered on people? Have Korea always been centered on dogs or cats?What's the investment in people? Wasting money is not the investment, is it?
What Moon Jae In is doing is simply government intervention to move toward communism.
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Prime Minister Kishida and South Korea's next president, Yoon Seok - Yeol, have a telephone conversation. Will there be any changes in foreign policy?
Regarding Yun Seok-Yeol's telephone talk with Prime Minister Kishida of Japan following the US, the South Korean Ministry of Foreign Affairs' foreign policy states that ``we will strengthen mutual assistance with China, Japan, and Russia, centering on the South Korea-US alliance. ”, which indicates that the telephone conversation did not follow the order of current foreign policy.
Looking at South Korea's diplomatic white paper for 2021, it uses expressions for Japan that are a step above the terms ``closest neighbor'' and ``neighboring country,'' and after looking into it, it appears that this expression has been adopted in 2020.
Similarly, in 2020, Japan reinstated the expression "important neighbor", which had been removed in 2018 and 2019. Although this appears to be in response to South Korea's move, it is a step down from the "most important neighboring country" that was used up until 2017.
Since this was a telephone conversation to report on the election, I don't think it will have a direct impact on Japan's diplomatic blueprint for 2022, but since the South Korean president will be inaugurated in May, it is important for the country to be able to carry out full-fledged diplomatic activities. will be after that.
It may be necessary to check the 2022 edition of the Diplomatic Bluebook to see if there will be any changes in Japan's foreign policy in the future
The exchange won rate has not stopped falling.The No Japan movement is a campaign to buy domestic products.Nothing will change under the chaebol economy.
South Korea's trade dependence on GDP is more than 70 percent, including the service sector.In other words, domestic demand is low and foreign exchange is directly affected.Even if foreign demand is received, it does not circulate at home and flows abroad.If the person who made the purchase contract increases the dollar by 5% at the time of payment, the payment will increase by 5%.The won-dollar exchange rate is 1,200 won, but it has been hovering around 1,200 won in recent days.
In order to maintain international competitiveness, chaebol companies such as SAMSUNG buy parts in bulk and produce them in bulk to reduce costs and sell them at low prices.In this case, large debts are always carried out and large payments are repeated, and problems arise when the value of the currency changes significantly during that period.This is the so-called default.Under these circumstances, the won's international credit rating has not increased, and South Korean companies can trade in dollars depending on the L/C of Japanese commercial banks.
South Korea experienced two foreign exchange crises in 1997 and 2008.No country will experience two foreign exchange crises in 10 years.In other words, South Korea's industrial form is vulnerable, and in short, it is trading beyond its currency capabilities.
Considering what Moon Jae In wants to do, the real intention is to socialize, control the currency, and stabilize the value of the won.Do you think the boycott is a campaign to buy domestic goods if it is reversed?
South Korea is listed by the FRB as a currency manipulator.
The reason why domestic demand is not expanding is the existence of chaebol companies.The role of chaebol companies in driving the Korean economy is important, but on the other hand, investment in chaebol companies is concentrated and other industries are not growing.In addition to the businesses run by chaebol companies, how can Korean companies grow globally?It can only be done with its own money without investment.
This structure will not change even if there is a boycott Japan.As a currency manipulator, even if it leaves the liberal economy, it will not change.It is necessary for the government to take the lead in fostering domestic demand and to attract investment in what industries to foster domestic small and medium-sized enterprises.The boycott Japan does not mean that South Korean domestic companies' sales will increase.
Moon Jae In's term of office is less than three months, and criticism from his country seems to be gathering.I think it's quite late from Japan view.
The president Moon Jae In's last resistance to the relocation of the president's office.cloud over election pledges.
They seem to be at odds over the relocation of the presidential office in South Korea.Yoon Seok-yeol, who is scheduled to become the next president in the presidential election, will not work at Cheong Wa Dae.He promised to relocate.The current Moon Jae In administration has made moving stop.Specifically, the government was about to start the relocation work after obtaining approval for the reserve fund expenditure at a Cabinet meeting scheduled for March 22, but it seems that it is not possible to obtain the reserve fund budget.The current presidential office Cheong Wa Dae said, "It is impossible to move the presidential office before the new administration takes office."Yoon Seok-yeol said, "If Moon Jae In refuses to cooperate on the most representative transition tasks, there is no way to enforce them."
Yoon Seok-yeol and the party "the power of the people" expressed their anger at President Moon, who said they could not agree to move the Ministry of National Defense and the Joint Chiefs of Staff due to security instability."The situation in which the president cannot enter the office and cannot be properly guarded will cause the security crisis of the Republic of Korea. Cheong Wa Dae's refusal to compile a budget on the grounds of a security vacuum is nothing more than a hindrance to the inauguration of the new government."
After all, it seems that the plan to relocate Cheong Wa Dae on May 10, when the administration takes office, was unreasonable.Moon Jae In The administration seems to say that it is impossible to transfer security and Cheong Wa Dae functions by that date, and whether it is correct or not, the relocation of Cheong Wa Dae should have been done at the right time after taking office.In other words, the first item in the election pledge has already been nullified by the ruling party.At least where the presidential office is held is not a matter, and it seems to be nothing more than a dispute that lacks substance.
Mr. Yoon Seok-yeol also seems to have been a bit slow to read.The current president is a Democrat with 58 percent of the seats in the National Assembly.I don't think I can get their help.
Anti - Korean sentiment in the world
When comparing data from the BBC on positive and negative impressions of Japan and South Korea, a surprising number of countries have a negative impression of South Korea (Reference wiki)
Japan has been at war with China in the past, so we can predict China's feelings towards Japan, but what exactly is South Korea like? Regarding China's sentiments toward South Korea, relations between China and South Korea deteriorated in 2016 when South Korea decided to deploy THAAD, but even if you look at domestic surveys conducted before then, it appears that China's reputation towards South Korea was quite unfavorable.
2007 "Xinhua News Agency" survey results: South Korea ranks first in "neighbors I don't like"
2007 “Tengai Community” survey results. ``Most hated country'' South Korea ranks first
2009 “Global Network” survey results. 94.6% of respondents said they did not have a favorable impression of South Korea.
It has long been pointed out that anti-Japanese campaigns around the world are a strategy to tarnish Japan's image, given that Japan and South Korea have similar industrial structures in the face of global competition.
But when you look at the data... In the first place, isn't the idea that one benefits by degrading others itself wrong?
[South Korea] If you have the world's highest household debt, you don't have enough disposable income - If you don't spend money, it's just bad manners.
Private/government debt 254%
Household debt is 104.2% of GDP
Global trend of interest rate hikes
Mortgage reduces disposable income
A traveler who just has bad manners
In a statement distributed in advance of the conference, Professor Ham Joon-ho of Yonsei University Graduate School of International Studies, who served as a member of the Bank of Korea's Financial and Monetary Committee, stated, ``Korea's macro leverage (private and government debt) level has expanded to 254% of GDP. ” he pointed out.
The household debt balance has continued to expand for 16 years, reaching a record high of 1,850.9 trillion won (approximately 176.9871 trillion yen) in the April-June 2021 period. According to a study by the Institute of International Finance (IIF), Japan's GDP ratio was 104.2%, the highest among 37 major countries and regions. Incidentally, the countries other than South Korea are followed by Hong Kong (92.0%), the UK (89.4%), and the US (79.2%).
On the 15th, the Federal Reserve Board (FRB), the central bank of the United States, announced the first major interest rate hike in about 30 years. The policy rate will be raised by 0.75% to a range of 1.50 to 1.75%.
Prior to this, South Korea announced that it would raise its policy interest rate from 1.5% to 1.75% in May. The rate was set at 1.5% in April, making this the second consecutive month of interest rate hikes. This will also be a severe blow to those who are burdened with household debt.
South Korea's per capita GDP is approaching that of Japan. According to the 2021 IMF announcement, Japan's price is $39,340 and South Korea's price is $34,801. However, Japan's household debt is around 66-7%.
Housing loans are the largest component of household debt. The skyrocketing price of land in Seoul continues to skyrocket, forcing many to borrow large sums of money to purchase apartments. As a result, even if GDP and wages rise, most of the money goes toward repaying household debts, resulting in less disposable income. I don't have any money to spend.
Even after salaries are paid, the money goes straight through the tunnel and is returned to financial institutions, where it is returned to the market. This is the reality of GDP per capita in the Korean economy.
As the coronavirus pandemic begins to subside and overseas travel is gradually lifted, travel to Japan is expected to become a boom again in South Korea. It's not that they like Japan. The above reasons are largely responsible for why Japan is chosen as a nearby travel destination.
And just because you come to Japan doesn't mean you have to spend money. There are quite a few groups that find faults, point them out, and complain to each other. It is said that Korean tourists just have bad manners.
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