Rising protectionism has recently become an increasing concern amongst a number of trade economists and policymakers. At the 2017 G20 Hamburg summit, G20 leaders agreed to fight protectionism includ-ing all unfair trade practices. However, the language of the final decla-ration on trade was weak and ambiguous. It did not suggest any promis-ing way forward. Although international organizations and ...

Labor market reform is among the top policy priorities in many major countries, including Korea and Japan, who recognize the necessity to reform their labor markets if they are to continue economic growth and deal with other socio-economic issues, such as sharp increase in the aged population, rapidly expanding income gap and deterioration of job stability. Japan's Abe administration has made efforts ...

Recently the central bank of Korea, the Bank of Korea, announced that North Korea's GDP in 2016 increased by 3.9%p compared with the pre-vious year. In 2016, the UN passed two resolutions for strong economic sanctions on North Korea, UNSCR 2270 and 2321. This economic per-formance, therefore, seems to support and even prove the popular hy-pothesis among North Korean experts that sanctions against ...

The world economy is yet to make a complete recovery from the 2008 global economic crisis. It is still suffering from a long period of weak economic activity. However beginning from this year, a somewhat differ-ent economic landscape is unfolding.

Korea has developed bilateral relations for economic cooperation with emerging countries in the Middle East and Central Asia. G2G (govern-ment-to-government) joint committees have been organized to improve the economic environment for trade and investment between two countries. However, bilateral economic partnership could reveal some limita-tions in developing broader cooperation due to the industrial ...

Having started as a security-oriented cooperation mechanism in the late 1960s struggling with considerable economic, political, and cultural heterogeneity, ASEAN has come a long way to establish itself as an example of an enduring and resilient regional community unparalleled in the developing world. In later decades, market-driven economic integration has taken over ASEAN integration, accelerated ...

If we define corruption as the abuse of entrusted power for private gain, corruption has been around us for as long as human society has existed. The fight against corruption has been declared a high priority in many governments and international organizations, such as the UN and the OECD. Nevertheless, corruption is continuously spreading and evolving, thus making it much more complex to detect and ...

China's trade surplus with the United States recorded the highest level ever last year, followed by hard-line trade actions. The Trump administration, which has viewed the persistent trade imbalance with China as a threat to America's economic health, subsequently announced a list of Chinese goods imports to be subject to tariffs as penalty for the alleged unfair trade practices. The Chinese government ...

The 2030 Agenda for Sustainable Development defines international trade as "an engine for inclusive economic growth and poverty reduction" that contributes to the promotion of sustainable development. By adopting Agenda 2030, the international community is committing to the continuous promotion of trade liberalization over the next 15 years. International trade will play its role as an effective ...

The Bank of Korea (BoK) has reacted in a somewhat different manner from other emerging central banks. The BoK’s policy rate has frozen in the range of 1.50 percent during the past seven months since November 2017. The rate gap between the Fed and the BoK expanded to 0.50 percent points after the June FOMC meeting. The global financial markets expect two more rate hikes by the Fed this year. There ...