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The Cost of Failure: U.S.-South Korean Free-Trade Agreement |
| Section: CURRENT ISSUES / ECONOMIC WATCH |
| Author: Bruce Stokes |
| Publication: The world & I online |
| Issue Date: 2/1/2007 |
| Size: 1,420 Words, 9,516 Characters |
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Trade has not been a priority for the Bush administration, and negotiations have stalled over a free-trade agreement between the U.S. and South Korea. Meanwhile, South Korea has lots of leverage and plenty of alternative markets, including China. The inability of the U.S. to reach such a major trade agreement signals that Europe could set standards in global trade. For example, trade agreements that the European Union have been negotiating include anti-trust provisions and protections on certain agricultural products, both of which add on challenges for U.S. exporters competing in those markets. U.S. automakers are a major political obstacle for any trade agreement: They sold less than 4,000 cars in South Korea during 2005, while South Korean vehicles have gained growing market share in...
. . .
...w.worldandischool.com/subscribers/searchdetail.asp?num=25382">Article #25382)
--"Can South Korea's Success Be Sustained?" by Young Whan Kihl, July 1990 (Article #17548)
Reprinted with permission by YaleGlobal Online (www.yaleglobal.yale.edu) Copyright © 2007 Yale Center for the Study of Globalization
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