Note
Post combined on Marmot’s suggestion. If you made a comment not below, please add again.
Andy Card’s Keynote
Once again, like the opening remarks, linking of Korea and the War on Terror. He has yet to say the “N” word, North Korea…Comments on how a FTA will stregthen the relationship of USROK relationship….usual yadda-yada about Democracies working together….
Finaly the “N” word, however soft gloves. I hate to make light of the US poltical touchstone but basicaly the message “let the ROK and the US become a city on the hill to the North”
Ending with comments on the power of the rule of law. Interesting little twist to the ROK side, it really lines up with USTR’s Culter’s opening trial baloon in the third round recently concluded. She wanted equal protection for coorporations under Korean law (ie no exemptions for chaebols).
Opeing Comments - Ted Kassinger, Former US Dep. Sec. Commerce
Opens with a recounting of post WWII ROKUS economic cooperation…Diplomatic yadda-yada on how an FTA is the next step in relations between ROK and US…(classy the guy behind me just ripped open with a serise of belches, and might I add do not smell well)…Interesting, argues that a FTA will increase Korean competitivenss in the US versus the Chinese…Hmmm, brings up US investment in around Asia and the number of agreements concluded, or talked about. Makes it seem like he is saying “You dont want to play ball, there are other places we can go”.
Speaking of investment, a veild return to the theme “rule of law”, this time using the problems of Lone Star, Carlye, and other invesment firms…and that was basicaly the end of the meat.
Comments - Han Duk Soo, former Deputy Prime Minister, currently head of the government committee to sell the FTA.
The FTA is controversial in Korea (duh!)…Egypt complemented him on Korea development…Korea’s opeing of trade barriers started in the 60’s (WHAT THE HELL??? OK so you lowered some barriers for industrial machiney so you can copy them, BFD)…
The FTA will hurt educaiton and trade? WTF?…”We should think of the unique charactertics of the invloved partes and find the right level of FTA” interesing comment as if the term “Free Trade” is a graduated concept, and what is the code word “unique characteristcs…”?…(This is the guy to SELL the FTA in Korea??? We are doomed!)…
Concerns on the aging society, interesting…”If the FTA will cause pain to our companies it will not do much good” (WTF? It will elimate inefficent use of resources, thats the idea!)…”For the FTA to be sucessful, it needs to fit with the national policy” (again say it with me…WTF!)…Alluded that any negitives effects NAFTA gave Mexico was because Korea has better human resources and Mexico “did not properly use the stimulus from the FTA”, or in other words we are smarter then those silly Mexicans (don’t look at me he said it)…”We will make the US see our way on the rice issue”, “The Gaesong issue will be fully explained so the goods can will be included under orgin of goods rules” (GIVE EM’ HELL WENDY!).
Comments - Ahn Choong Yong, Former President, Korean Institute for International Economy.
Comments on the growth of S. Korean Economy, but for some reason quotes the GDP figures through quoting a Nobel Prize winner (WHY? Its only data)…Worries about China…Konglish alert, “parigadim” and “megatrend” forced into the same sentance…First mention of the collapes of the Doha Round…a laundry list of FTA issues for both sides (it almost sounds like I read my recent blog postings the way he ran down the issues)…
“Wheat Cotton Barley and Corn are traditional Korean crops” (???)…”Korea preemptively lowered barriers such as screen quota, beef…” (Yeah after massive US arm twisting)…
“China, Japan, and South Korea have been sending mating calls to ASEAN [on free trade]” (Odd, if not awkward, metaphor)…
Comments on what Korea needs to do become more friendly to Foreign Investment, some regret over how Lone Star is being treated…
5 Comments
On the face of it this is very disappointing. Han is generally known in the foreign ivestment community as a stalwart advocate of the interests of foreign investors, and is credited for playing a very important role in seeing that the openings legislated in the aftermath of the ‘97 financial crisis were actually implemented in the way they were advertised. That being said, he’s also a very experienced bureaucratic insider who obviously picks his waves and doesn’t try to shoot the pipeline if it isn’t there. So the question is whether Han is limning the politics of the FTA as the art of the possible or blowing smoke up the backsides of the local opponents of the FTA. If the former, I wonder if he realizes that the battle already has been lost, since as your post suggests the US doesn’t appear to be in the mood for mere horse-trading if the result can’t be legitimately and persuasively advertised as an instance of (more or less) FREE trade.
Hmm. that was supposed to show up as a cfomment to the segment on Han Duck-Soo
Christ, George. I know I asked you to live blog this thing, but don’t do it all in individual posts. Do it in ONE POST and UPDATE it!
LOL, what is this conference called? Spell check is your friend, my friend!
“the guy behind me just ripped open with a series of belches” That describes most of the ajossis in my office every day.
The “China card” is a good play on Kassinger’s part, IMHO. Korean business fear what will happend when the Chinese start to muscle in on “their” business sectors (computer chips and such) like they muscled in on “Japan’s” sectors like ship building back in the 70s.
Frankly, I think the Korean government would get more traction selling the FTA to a public if they sold it in terms of beating out the Chinese.