By Make of this what you will:
Korea was found to have the highest economic dependence on exports and imports among the G20 nations. According to the Principal Global Indicators (PGI) for G20 nations issued jointly by the International Monetary Fund and the Organization for Economic Cooperation and Development, exports accounted for 43.4% of Korea’s gross domestic product (GDP). This is the highest among the members of the G20 except for Saudi Arabia, which has yet to present statistics. [KBS Global]
You can read more at the link.
4:25 pm on September 22nd, 2010 1
Speaking of dependence on foreign trade -
Amid Tension, China Blocks Crucial Exports to Japan -
Sharply raising the stakes in a dispute over Japan's detention of a Chinese fishing trawler captain, the Chinese government has placed a trade embargo on all exports to Japan of [rare earths - also needed by the US military!]
by Keith Bradsher in the New York Times.
http://www.nytimes.com/2010/09/23/business/global…
To refresh your memory, the captain was arrested for colliding with Japanase coast guard ships near the Senkaku or Diaoyu islands. Wikipedia says, "The United States controlled the islands as part of its occupation of Okinawa from 1945 to 1972." I guess that means we think the Senkakus are part of Japan.
7:12 pm on September 22nd, 2010 2
#1,
They have Walmarts in Japan?
8:43 pm on September 22nd, 2010 3
On a related note, China recently got its hands on technology South Korea plans to export:
http://www.google.com/hostednews/afp/article/ALeq…
9:53 pm on September 22nd, 2010 4
That sucks, but btw that's not a tank, it's an amphibious IFV/SPAAG. The thing's engine presently has some problem maintaining the right level of air pressure for the pumps to work at a certain level of acceleration in the water. It's already a lot better and more affordable than Bradley M3 but the ROK military wants more and give full amphibious capability to it…
4:02 am on September 23rd, 2010 5
HSBC bank in its new report says Korea's economy is less effected by international recession than most countries.
http://biz.heraldm.com/common/Detail.jsp?newsMLId…
If China loses 1% growth, Korea will only lose 0.2% growth rate.
If the US and EU lose 1% of growth, Korea will only lose 0.8%.
Korea's situation is far better than Hong Kong, Taiwan, Turkey, and Malaysia who are in trouble if the US and/or the EU goes into a deep recession, because they're the ones who are most deeply dependent on those two economies.
On the other hand, Korea although heavily depended on trade, have diversified industries that other Asian countries lack.
6:50 am on September 23rd, 2010 6
Industries such as exporting birth defect babies to foreign lands,who one day blossom into spazztastic internet trolls
10:34 am on September 23rd, 2010 7
The problem for Korea, because it is so dependent on exports, is that it must maintain large foreign currency reserves. That's why the value of the won has remained low, which also helps to support the exports.
12:44 pm on September 23rd, 2010 8
Speaking of foreign reserves, the US has a $360 billion trade deficit with China last year. The gap grows bigger every year. In other words, all the wealth is flowing out of US, and flowing into China, thank you very much Uncle Sam. Problems for Korea? pfff.. You should worry about yourselves, American.
1:09 pm on September 23rd, 2010 9
Korea's foreign currency reserves are at stable level, at about $300 billion right now. It can safely be used to effectively intervene in any high deflation crisis of the won like the one back in 1997. And it can also reduce Korea's external or public debts to zero on either statistics.
8:28 pm on August 27th, 2011 10
Dearest high (sic) Priest Dias,
I, too, am a caster of spells and supplier of various artifacts and potions suitable for use in both the Light and Dark Arts.
I, too, don’t make false promises.
While I cannot speak for you, my powers over life and death and love and wealth can be verified. I can prove my abilities to the satisfaction of everyone here.
We should get together for a spell casting competition. You can cast a personal spell at me and I will cast a personal spell at you.
May the best high (sic) Priest win through a superior demonstration of power and mastery over the Mystical Arts.
I leave you with an example artifact I might use when casting a Spell of Death From a Distance.
http://accurateshooter.net/pix/300WM.png