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The Korea Times

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6. Robert Atkinson

When facts about China change, elites should change their views too

Since the late 1970s, the United States has been in the grip of a deep, almost religious belief that free markets and unfettered globalization maximize U.S. and global welfare. Termed the “Washington Consensus,” the view is based on a number of deeply held beliefs, including that small government is best, governments should not try to pick winners, no industry is more important than another, and more economic competition and global integration are always good.

2023-01-16 16:50

Korea should not require companies to pay to deliver digital content

Since the emergence of the broadband internet, there have been disagreements about who should pay to transmit data. When a Korean user downloads an episode of “Squid Game,” who should pay for transmission of that data from the server hosting the episode to the user's computer: the company hosting the content or the internet service provider (ISP) that the consumer pays for to obtain broadband access?

2022-12-19 16:55

Beware of tech principles in sheep's clothing

In the last few years, a growing movement has advocated “responsible” technology development and use, particularly for artificial intelligence. With monikers like “human-centered AI” and “responsible technology” these sound, as we say in America, like “motherhood and apple pie.” Who can be against human-centered and responsible technology?

2022-11-10 13:24

Korea should capitalize on soaring dollar

The U.S. dollar has reached near-record highs, including against the Korean won which is down 16 percent over the last 20 months. This makes U.S. imports to Korea more expensive and Korean exports to the U.S. less expensive. Great for American consumers but bad for American workers. And vice versa for Korea.

2022-09-15 17:05

Turning point for American industrial policy or one-hit wonder?

As American politics sinks farther into the hole of partisan vitriol and dysfunctionality, we can be reminded of former George W. Bush administration Secretary of State Condoleezza Rice's statement that “we need a common enemy to unite us.” In this case, a common adversary - China - united Republicans and Democrats last month to pass landmark legislation: the CHIPS and Science Act. The two main features of the bill are to provide critical support for semiconductor firms and to boost science funding significantly, especially targeted to key technologies for U.S. competitiveness.

2022-08-15 16:03

Why dollar as reserve currency is America's Achilles heel

Here's a thought experiment. The government can wave a magic wand and automatically reduce the price of exports by 15 percent and increase the price of imports by the same.

2022-07-21 16:59

Korea's advanced industry success story

Nations are in a fierce win-lose competition for global market share in advanced, traded-sector technology industries, because winning enables not only prosperity, but economic and national security - especially for allied nations where China's gain often comes at their loss.

2022-06-14 16:24

Roadmap for Korea-US technology cooperation

The last decade has made it clear that China did not move toward open trade, freer markets, or political liberalization as so many expected. Instead, under President Xi Jinping, China doubled down on authoritarian politics and mercantilist economic and trade policies. This would be problematic enough on its own, but China appears to be also seeking global economic and political hegemony - so it can be challenged by no one.

2022-05-19 16:55

Time to expand R&D credit for large Korean firms

Technological innovation is the foundation of economic progress, and research and development is the rocket fuel of innovation. That's why governments around the world provide financial support for R&D, both directly through grants and indirectly through tax incentives for companies, big and small.

2022-05-11 16:15

Korea should participate in proposed Indo-Pacific Economic Framework

The Biden administration has launched its Indo-Pacific Economic Framework (IPEF) to increase economic cooperation among Pacific region democratic nations. Korea should be an active participant. In an effort to bring together democratic, rule-of-law Pacific-rim nations in a new trading bloc, it was clearly a disappointment that the United States did not join the Trans-Pacific Partnership (TPP) trade agreement.

2022-04-21 16:16

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