New Bush Administration's Economic Policy toward Korea

As preparations get underway for President Kim Dae-jung's visit to Washington next month, the issue of U.S. economic policy toward Korea under the new Bush Administration naturally arises.

In certain key respects, U.S. policy toward Korea is likely to be a microcosm of U.S. economic policies globally, while other aspects of US policy are likely to have Korea-specific elements.

Interestingly, issues of international finance could loom large. The IMF program was deeply unpopular among many people here in Korea. What is probably surprising to many Koreans is that the IMF is equally unpopular among some Americans who are obsessed with the notions of moral hazard and associated bail-outs of international investors and their domestic counterparts in countries like Korea.

These concerns are being elevated in the new U.S. administration in ways that could have implications for the future of the Korean economy.

Back in 1998, at the height of the Asian financial crisis, the IMF was beginning to …

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Publication information: Article title: New Bush Administration's Economic Policy toward Korea. Contributors: Not available. Newspaper title: Korea Times (Seoul, Korea). Publication date: February 26, 2001. Page number: Not available. © Not available. COPYRIGHT 2001 Gale Group.

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