The Chinese stock market has rallied recently in anticipation of another round of government stimulus. This is understandable, as the authorities have rolled out multiple monetary and fiscal stimulus packages to stave off deflation and boost GDP growth. But with public debt already well above historical norms, there is limited room for further fiscal intervention without risking a future debt crisis. Given this constraint, China should focus on policies that stimulate entrepreneurship, investmen

ViewpointsDec. 11, 2024

December 2024 marks the 40th Anniversary of the charity single, “Do They Know It’s Christmas,” a well-known Christmas song written by Sir Bob Geldof (Boomtown Rats) and Midge Ure (Ultravox). To celebrate it, its producers have recorded a new version of the single. Along with it has come renewed critiques of this song. The 1984 single prominently featured a who’s who of famous (mostly) British New Wave musicians of that era during the height of MTV. I remember anxiously wa

ViewpointsDec. 10, 2024

With the relentless rise of AI-powered digital technology, we're seeing growing concerns about our students. These include their declining literacy as well as the ills of digital dependence, disinformation and deepfakes. When I ask my grad students about some toxic social scenes of digital addiction, their responses are pretty familiar: their own endless scrolling through short videos and social media, and the daily sight of everyone glued to their phones on buses and subways. These respons

ViewpointsDec. 10, 2024

I don't like to look back on decisions I made in the past and think about how different things might be now if I had taken another path. For instance, I see little point in wondering how my life would have changed if I had attended a different university or not become a journalist. The same applies to economic policies. However, the timing of economic policy, as opposed to its content, is a different matter. In economic policies, timing is as important as, if not more important than, the co

ViewpointsDec. 9, 2024

It came as a surprise that President Joe Biden unconditionally pardoned his son Hunter, a convicted felon, after repeatedly vowing that he would not. For the past few months, each time Biden or his press secretary was asked whether a pardon was in the cards, they both emphatically said no. So much for one of the president's favorite lines, "I give you my word as a Biden." Hunter, who was facing a potential sentence of years in prison for tax evasion and lying on a federal firearms

ViewpointsDec. 9, 2024

Amid the earth-shattering geopolitical changes of today, what should be South Korea’s new foreign policy objective in the coming new year? I would like to propose a membership of the G9 (Group of Nine). Together with Australia, Korea could try to become a new member of the rich countries’ club, currently limited to the G7 (the US, Canada, the UK, France, Germany, Italy and Japan). By joining the club, Korea can transform itself from a rule-follower to a rule-setter of global governan

ViewpointsDec. 6, 2024

Nicola Weir is an environmental, social and governance, or ESG, expert whose career and adventurous spirit have taken her across the globe. Having lived in the UK, Indonesia, Singapore, Tanzania, Mozambique, Nepal and now in South Korea, she brings a wealth of experience to her role as a partner at Deloitte Korea. A people person with a warm laugh and a big smile, Nicola is known for her vibrant personality, passion for her work, and a strong network of friends and connections. I first met her l

ViewpointsDec. 5, 2024

The world of work is undergoing significant changes amid risks in a precarious setting. The polycrisis surrounding the workplace ranges from health risks from global warming and climate change, to political constraints and demographic changes with an aging population in several parts of the world. The challenge is thus to respond with more preparedness in the life cycle of existence, where work is a major contribution to not only human livelihood but also self-esteem with a sense of purpose and

ViewpointsDec. 5, 2024

I was a 14-year-old boy when former President Park Chung-hee was assassinated in October 1979, and emergency martial law was issued. The martial law was imprinted on me as a fear that I could be shot dead if I left the house. I saw soldiers on TV equipped with guns deployed on the streets of Gwanghwamun, Seoul. I'm sure all Koreans my age have kept similar uncomfortable fears in their memories. When I heard the martial law news about 11 p.m. on Tuesday, I felt a chill flowing throughout my

ViewpointsDec. 5, 2024

Donald Trump’s return to the White House is stoking fears that he could reinstate a failed program launched during his first term that aimed to crack down on Chinese espionage, but ended up becoming more of a witch-hunt. Doing so would not only be destructive to American innovation, but give China an upper-hand in the tech race. The China Initiative, launched in 2018, was an extensive national security effort intended to prevent intellectual property theft and the transfer of US technologi

ViewpointsDec. 4, 2024