Int'l community voices concerns over Japan's export restrictions on S.Korea
- 5 years ago
There are growing concerns among the international community over Tokyo's export curbs on Seoul, which could hurt the whole global economy.
Kim Hyesung reports.
Japan's export restrictions target key high tech materials, namely etching gas, fluorine polyimide, and photoresist, which are used by South Korean IT firms to make semiconductors and display panels.
Regarding the export curbs, U.S. thinktank the American Enterprise Institute released an article criticizing Japan's move as dangerous and destructive, saying that it is likely to greatly disrupt global electronics supply chains and bolster China's push for 5G wireless dominance.
Author Claude Barfield, a former consultant to the U.S. Trade Representative, said he is not taking sides on the history of Korea and Japan, but that it is imperative that Japanese Prime Minister Shinzo Abe be persuaded to suspend the export restrictions.
Another article by the AEI said it’s time for the Trump administration to step in and deal with both Seoul and Tokyo at a time when the three-party-alliance is important for tackling North Korea related issues.
Global consulting company IHS Markit also said Japan's export restrictions add pressure to Asian exporters amid the ongoing U.S.-China trade tensions and a slowing global electronics sector.
Six U.S. business groups including the Semiconductor Industry Association on Tuesday local time also sent an open letter to South Korea and Japan, calling for a timely resolution to the matter as Japan's unilateral export restrictions hurt the supply chain and IT companies.
Foreign media also voiced concerns over the export restrictions.
A Bloomberg editorial said Japanese Prime Minister Abe is abusing trade measures to resolve a political dispute with South Korea and called for a lifting of the export restrictions while saying South Korea should agree to arbitration over the forced-labor issue.
CNBC said Japan's export curbs could disrupt the global manufacturing supply chain, raise chip prices and add to worries of an already slowing global economy.
Kim Hyesung, Arirang News.
Kim Hyesung reports.
Japan's export restrictions target key high tech materials, namely etching gas, fluorine polyimide, and photoresist, which are used by South Korean IT firms to make semiconductors and display panels.
Regarding the export curbs, U.S. thinktank the American Enterprise Institute released an article criticizing Japan's move as dangerous and destructive, saying that it is likely to greatly disrupt global electronics supply chains and bolster China's push for 5G wireless dominance.
Author Claude Barfield, a former consultant to the U.S. Trade Representative, said he is not taking sides on the history of Korea and Japan, but that it is imperative that Japanese Prime Minister Shinzo Abe be persuaded to suspend the export restrictions.
Another article by the AEI said it’s time for the Trump administration to step in and deal with both Seoul and Tokyo at a time when the three-party-alliance is important for tackling North Korea related issues.
Global consulting company IHS Markit also said Japan's export restrictions add pressure to Asian exporters amid the ongoing U.S.-China trade tensions and a slowing global electronics sector.
Six U.S. business groups including the Semiconductor Industry Association on Tuesday local time also sent an open letter to South Korea and Japan, calling for a timely resolution to the matter as Japan's unilateral export restrictions hurt the supply chain and IT companies.
Foreign media also voiced concerns over the export restrictions.
A Bloomberg editorial said Japanese Prime Minister Abe is abusing trade measures to resolve a political dispute with South Korea and called for a lifting of the export restrictions while saying South Korea should agree to arbitration over the forced-labor issue.
CNBC said Japan's export curbs could disrupt the global manufacturing supply chain, raise chip prices and add to worries of an already slowing global economy.
Kim Hyesung, Arirang News.