Please view the video from the event below. U.S. Fed Interest Rate Normalization: The Impact on Korea, the U.S., and the Global Economy On November 9, KEI and The Korea Society hosted a discussion with a panel of distinguished experts in the fields of financial risk and macroeconomics on how the inherent challenges for the global economy from higher interest rates will impact South Korea and the U.S. After over seven years of near zero interest rates, the Federal Reserve may now be ready to raise rates, but is the world ready? Normalizing interest rates is expected to cause significant capital outflows from emerging economies, exposing debt burdens amassed in a period of cheap credit and depreciating local currencies against the dollar. In light of slowing global growth and the rising strength of the dollar, investors are concerned tighter U.S. monetary policy will precipitate a major financial crisis in emerging markets. Though advanced economies are projected to be less affected, the scale of another global crisis could disrupt U.S. and South Korean growth, reflected in recent IMF adjustments to its 2020 nominal GDP forecasts. The scope of a possible crisis in emerging markets has drawn parallels to 2008, but to what extent should a new crisis be considered separate or a continuance of the previous one? Is the crisis on the horizon an inevitable outcome of the Fed’s policies over the past seven years? What does this suggest about the efficacy of both conventional and unconventional monetary policy and the role of central banks in managing their economies moving forward?
On March 28, 2015, KEI President & CEO Donald Manzullo moderated a panel discussion on economic and political challenges effecting Asia at the inaugural forum of the Rockford University Global Affairs Council in Rockford, Illinois. The panelists included Dr. Jin Park, former Chairman of the Committee on Foreign Affairs, Trade and Unification of the Korean National Assembly; Dr. Gil Rozman, Emeritus Musgrave Professor at Princeton University; and Dr. Roxana Idu, Assistant Professor of Economics at Rockford University. The event was kicked-off with welcoming remarks from the Vice President and Provost of Rockford University, Dr. Steven Siconolfi. The panelists held a wide ranging and vibrant discussion on political and economic relations among China, Korea, Japan, Russia, and the United States and how upheavals in other parts of the world affect Northeast Asia.
The Korea Economic Institute of America with the Institute of World Affairs (IWA) at the University of Wisconsin-Milwaukee hosted a Future of Korea program from April 7-8, 2015. During the trip, members from the U.S. Department of State, Embassy of the Republic of Korea and KEI will travel to participate in a public program and meetings in Milwaukee.
On July 31, 2014 KEI hosted a discussion on North Korea's Economy. In an era of globalization, North Korea remains one of the most isolated economies in the world. While normally still functioning as a planned economy, Pyongyang has pledged in recent years that no North Korean will "have to tighten their belts again." Please view the video below