[ISSUE TALK] South Korea's exports seemingly healthy amid growing global trade war
- 6 years ago
한국 수출 호조세, G2 무역전쟁도 이겨낼까? - 신상협 교수 대담
Joining us to help interpret the numbers is Professor Shin Sang-hyup from Kyunghee University. Thank you for coming today Professor.
My pleasure.
1 - South Korea's exports in July reached 51.9 billion U.S. dollars, meaning that exports have reached over 50 billion dollars for 5 consecutive months. That sounds like good news, but what is really going on?
2 - How long will this rise in exports continue for?
3 - The main risk to South Korea's trade is perhaps the global trade war that is being waged at the moment. But there seemed to be a turning point last week when Trump met with Juncker and they agreed to work towards zero-tariffs on industrials goods except cars. Trump described it as a "big day for free and fair trade." Was he right?
4 - Meanwhile the trade war with China continues to worsen. The White House has revealed that Trump is considering raising the 10% tariffs they are already putting in place to 25% on Chinese goods worth 200-billion-dollars. Officials say there doesn't seem to have been any specific reason that prompted this, but what do you make of this development?
5 - The Trump administration has also announced a new investment plan in the Indo-Pacific region - a 113 million dollar investments in areas focused on technology, energy and infrastructure. It's building on his so-called "Indo-Pacific Strategy". Can you tell us more about that?
6 - The Trump administration's Indo-Pacific Strategy seems to be a concerted effort to counter China's influence in the region. Secretary of State Pompeo said the U.S. "has never and will never seek domination" in the region, and at the same time will oppose any country that does. China has been pumping huge investment into region as well. Do you think U.S. will be able to counter China effectively with this kind of plan?
7 - Bloomberg have reported that U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He have been holding private phone conversations to try and resolve the trade negotiations. Does that signal a good sign that the two sides might be able to strike some sort of deal?
8 - South Korea are concerned with this situation as well. In fact, last month, when South Korea lowered its growth forecast from 3% to 2.9% percent, the finance minister warned international anxiety from the U.S.-China trade dispute could further affect Korea's economic situation. What does Korea need to do prepare and counter its effects?
Joining us to help interpret the numbers is Professor Shin Sang-hyup from Kyunghee University. Thank you for coming today Professor.
My pleasure.
1 - South Korea's exports in July reached 51.9 billion U.S. dollars, meaning that exports have reached over 50 billion dollars for 5 consecutive months. That sounds like good news, but what is really going on?
2 - How long will this rise in exports continue for?
3 - The main risk to South Korea's trade is perhaps the global trade war that is being waged at the moment. But there seemed to be a turning point last week when Trump met with Juncker and they agreed to work towards zero-tariffs on industrials goods except cars. Trump described it as a "big day for free and fair trade." Was he right?
4 - Meanwhile the trade war with China continues to worsen. The White House has revealed that Trump is considering raising the 10% tariffs they are already putting in place to 25% on Chinese goods worth 200-billion-dollars. Officials say there doesn't seem to have been any specific reason that prompted this, but what do you make of this development?
5 - The Trump administration has also announced a new investment plan in the Indo-Pacific region - a 113 million dollar investments in areas focused on technology, energy and infrastructure. It's building on his so-called "Indo-Pacific Strategy". Can you tell us more about that?
6 - The Trump administration's Indo-Pacific Strategy seems to be a concerted effort to counter China's influence in the region. Secretary of State Pompeo said the U.S. "has never and will never seek domination" in the region, and at the same time will oppose any country that does. China has been pumping huge investment into region as well. Do you think U.S. will be able to counter China effectively with this kind of plan?
7 - Bloomberg have reported that U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He have been holding private phone conversations to try and resolve the trade negotiations. Does that signal a good sign that the two sides might be able to strike some sort of deal?
8 - South Korea are concerned with this situation as well. In fact, last month, when South Korea lowered its growth forecast from 3% to 2.9% percent, the finance minister warned international anxiety from the U.S.-China trade dispute could further affect Korea's economic situation. What does Korea need to do prepare and counter its effects?