He might be keeping the canal, but President-elect Lee is dropping his target for 7% growth during his term. This is probably a good decision, especially when it’s accompanied by comments like this: “Lee said Korea must seek out growth engines in order to make the economy grow without the help of pump-priming measures. It’s the job of businesses rather than the government to find those growth engines, he added.” If Lee keeps talking like that, I’m going to have very little to blog about over the next five years.
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9 Comments
Wow. Can he run for PM in Canada?
Yeah. That’s what Canada needs. A canal from Halifax to Vancouver. haha
Less the canal, of course.+
…..though, one from New Brunswick to Ontario, bisecting Quebec above QCity might work. QC, Trois and Montreal could form a banana republic and the rest of the country could go on just fine. North Quebec (not Quebec Nord) could be divided into greated NB and Newfoundland.
Hmmmm..
No mention of FDI?
7% or 8% growth?
Yeah, I predict I’ll only gain 1% body weight this year and start making $150,000 a year, all of this while sitting on my ass in my house.
I thought the reason he was elected was because he promised phenomenal economic growth?
Oh yeh: “conservatives could put up a dog and still win ..”
LOL. You can always blog on us comparing Taiwan to Korea! Plenty of meat there. Down here the magic bullet is links to China. All the time we’re told that Korea is going great guns because it has direct links to China, whereas Taiwan is slumping because we don’t have direct links.
Michael
Aww…I’m sad that Korean is not going to be sportin’ a new set of hubs.
(that was sarcasm, by the way)
Seriously, though, as a social liberal and fiscal conservative, I couldn’t be happier if I took his words at face value.
However, don’t worry, Robert. You’ll have tons to blog about. I believe his words actually mean “I’ll let the chaebols do whatever they want and make sure the prosecutors look the other way”.
A word to the naysayers: Goldman Sachs just increased their economic growth forecast for ROK in 2008 from 4.8% to 5.1% based on LMB’s election.
Errr…. anything to increase growth rates will need a President to be in office for a few years, otherwise fiscal and executive influenced monetary policy can’t really take effect.
Hell, I’d be happy with 6% average GDP growth at the 5th year of his tenure.