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The global financial crisis and U.S.-Korea trade and investment : A perspective

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  • The global financial crisis and U.S.-Korea trade and investment
  • Nanto, Dick K.
  • International Council on Korean Studies


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Title The global financial crisis and U.S.-Korea trade and investment
Similar Titles
Sub Title

A perspective

Material Type Articles
Author(English)

Nanto, Dick K.

Publisher

[Washington, D.C.]:International Council on Korean Studies

Date 2009
Journal Title; Vol./Issue International Journal of Korean Studies:vol. 13(no. 2)
Pages 36
Subject Country United States(Americas)
South Korea(Asia and Pacific)
Language English
File Type Link
Subject Economy < Trade
Government and Law < International Politics
Holding ICKS

Abstract

The global financial crisis of 2008-2009 that began in the United States quickly spread to other countries of the world, including South Kor A has pursued policies to counter the worst effects. Phase I was to conta contagion and strengthen financial sectors. This was done primarily by monetary policy lowering interest rates, rescuing troubled banks and other financial institutions, and, in Korea’s case, providing foreign currency to companies with short-term debt owed in dollars. Phase II has been to cope with the economic effects as the crisis spread from the financial to real sectors. In phase III, regulatory and financial market reform has been carried out. In the international coordination of regulatory reform, the G-20 (Group of Twenty Nations) is playing a key role. Phase IV is to deal with the political effects and protectionism generated by the crisis. (The rest omitted)