Economy likely to sputter: Kim warns it may take 5 years to stem crisis
Article Abstract:
South Korean President-elect Kim Dae Jung has predicted that it may take the country until the end of 1999 to completely recover from the effects of the regional currency crisis. He forecasts a doubling of the country's jobless population to about 1 million before it can weather the crisis. However, Mr. Kim believes that the country can emerge a 'truly advanced country' through corporate restructuring and liberalization. Mr. Kim points to authoritarian rule as the root of the region's and the country's economic problems, saying that dictatorial practices have helped spur corruption in government and businesses.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Broad respect allows Kim to push economic reforms
Article Abstract:
South Korean President Kim Dae Jung, armed with the support of the US Chamber of Commerce, is pushing though with his proposed economic reforms. In his official visit to the US in June 1998, the president vowed to bolster reform of his country's debt-ridden firms and weak banks, while supporting a more lenient stand on North Korea. Kim notified the chamber of his proposal to present a new foreign-investment promotion bill that would offer foreign investors with the financial privileges and government support.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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Economic growth outlook worsens
Article Abstract:
Analysts are forecasting low economic growth numbers for Indonesia, as its currency value is falling and interest rates are rising. The foreign debt of $68 billion is straining the national budget, and the government may have to financially support the struggling banking industry. A related chart shows daily closes of the Indonesian rupiah against the U.S. dollar.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 2001
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