South Korea Steals a March

Article Abstract:

American politicians and steel companies oppose the expansion of the South Korean steel industry. They argue that new South Korean steel plants would aggravate the present world surplus of steel capacity. The South Korean gross national product (GNP) is growing, but remains well below those of Japan and the United States. Demand for steel within South Korea is greater that the domestic supply. South Korea's largest steel company, the state-owned Pohang Iron and Steel Company (POSCO), undersells Taiwanese, Japanese, and American steel. South Korea's largest export market is the United States. They have penetrated the Japanese domestic market, driving down steel prices in Japan. Japanese steel companies have reacted to a market slump and increasing competition by initiating cutbacks in capacity, investing abroad, lowering freight and raw material cost, and diversifying.

Steel industry, International competition (Commerce), International competition (Economics)

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Large cash transfers to the elderly in South Africa

Article Abstract:

An examination of the social effects of South Africa's generous pension scheme showed that the negative effects of the pension scheme on the economy stems from the behavior of the individuals in the poorer sector that is benefited by the scheme. This is especially true since much of the pension is used on maintenance activities and not on public welfare activities such as education or transportation. But one advantage of the pension scheme is that it is as close to the idealized pension scheme in that all the target beneficiaries are served.

Pension Fund Administration, Models, South Africa, Social policy, Pensions, Pension funds, Social services, Social service, Financial management

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Doves over Korea

Article Abstract:

North Korea has made an important concession in its latest proposal for detente on the Korean continent. It has agreed to allow South Korea to join peace talks with it and the United States. The Japanese proposal would include Russia, the United States, China, North Korea, South Korea and Japan. Trade is an important factor. A map is included.

Laws, regulations and rules, National government, Politics, Federal government

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