Comments on: Korea defends itself against nasty foreign speculators http://www.rjkoehler.com/2006/01/20/korea-defends-itself-against-nasty-foreign-speculators/ Korea... in Blog Format Fri, 21 Nov 2008 17:17:05 +0000 http://wordpress.org/?v=2.6.3 By: Kimbob http://www.rjkoehler.com/2006/01/20/korea-defends-itself-against-nasty-foreign-speculators/#comment-28538 Kimbob Sat, 21 Jan 2006 16:02:55 +0000 http://rjkoehler.com/?p=2336#comment-28538 Now they usually call it the "Financial Crisis". I haven't heard "IMF Crisis" in a long while. Now they usually call it the “Financial Crisis”. I haven’t heard “IMF Crisis” in a long while.

]]> By: wooj http://www.rjkoehler.com/2006/01/20/korea-defends-itself-against-nasty-foreign-speculators/#comment-28537 wooj Sat, 21 Jan 2006 13:17:37 +0000 http://rjkoehler.com/?p=2336#comment-28537 To this day, most Koreans refer to the Asian financial crisis as 'IMF.' Many Koreans felt that the IMF's program was a national humiliation that subjugated Korea to western (especially American) control. Many blame mercurial 'foreign speculators' without noting the factors that caused the flight of foreign capital (such as a lack of transparency in corporate management and government intervention in the banking industry to funnel loans to favored companies and projects). Well, I don't comment much nowadays, but this sounds completely misguided. The reference to the Asian financial crisis in 1997 as "IMF" is actually due to an (inappropriate) abbreviation of "IMF Crisis" (as they used to call the economic crisis in the U.K. in 1976), rather than a matter of putting the blame on something else. It's a case of bad language (some blogger would call it "??? ????") that somehow "stuck" as a bad habit for sure, but not a problem with attitude. There was plenty of talk on TV in 1997 about how structural mismanagement, etc. led to the catastrophe, and I don't remember Koreans kicking anyone else but themselves for it. To this day, most Koreans refer to the Asian financial crisis as ‘IMF.’ Many Koreans felt that the IMF’s program was a national humiliation that subjugated Korea to western (especially American) control. Many blame mercurial ‘foreign speculators’ without noting the factors that caused the flight of foreign capital (such as a lack of transparency in corporate management and government intervention in the banking industry to funnel loans to favored companies and projects).

Well, I don’t comment much nowadays, but this sounds completely misguided. The reference to the Asian financial crisis in 1997 as “IMF” is actually due to an (inappropriate) abbreviation of “IMF Crisis” (as they used to call the economic crisis in the U.K. in 1976), rather than a matter of putting the blame on something else. It’s a case of bad language (some blogger would call it “??? ????”) that somehow “stuck” as a bad habit for sure, but not a problem with attitude. There was plenty of talk on TV in 1997 about how structural mismanagement, etc. led to the catastrophe, and I don’t remember Koreans kicking anyone else but themselves for it.

]]> By: R. Elgin http://www.rjkoehler.com/2006/01/20/korea-defends-itself-against-nasty-foreign-speculators/#comment-28536 R. Elgin Sat, 21 Jan 2006 05:30:44 +0000 http://rjkoehler.com/?p=2336#comment-28536 Andy, the article link is not working as of now. I guess it is easy to blame everyone else for one's mistakes and shortcomings. Andy, the article link is not working as of now.

I guess it is easy to blame everyone else for one’s mistakes and shortcomings.

]]>