Asia

Along with commercial banks, capital markets are an integral part of the financial systems in most capitalist economies, and their relative importance is constantly increasing. Countries around the world are…

Central banks have two responsibilities: (1) stabilize the value of the currency and (2) maintain public confidence in deposit money by limiting systemic risk. The first responsibility is primary, ongoing,…

In the unfolding process of the Korean financial crisis in 1997, an inefficient corporate bankruptcy system played a damaging role in the Korean economy. Before the crisis, in 1996 and…

Although Korea has seen its economic growth rates come down from the stratospheric heights of previous decades, it remains, by any advanced-country yardstick, a successful economic performer. Korea’s real GDP…

In this episode of Korean Kontext, guest host Kyle Ferrier, KEI's director of academic affairs and research, sits down with Korea Society President Tom Byrne. Before joining the Korea Society…

Ever since Myanmar's political and economic opening several years ago, countries have been looking to get in on the ground floor to build ties with this emerging economy in Southeast…

Ever since last summer, when South Korea and the United States announced they would be deploying the Terminal High Altitude Area Defense (THAAD) missile defense system to the peninsula, China…

Much has been discussed about the power of outside information to open the eyes of the North Korean people and convince them of the truth about the outside world. Some…

By Troy Stangarone While 2011 will ultimately be remembered for the passing of Kim Jong-il, it was also a year of significant change and new milestones for both South Korea and the U.S.-Korea alliance. In many ways, 2011 really began in the waning days of 2010 for South Korea. On November 23 last year, North…

By Chad 0'Carroll Hundreds of thousands of mourning North Koreans lined the bitterly cold streets of Pyongyang today to say goodbye to their leader, Kim Jong-il.  How real the tears were is impossible to say, but the images were nonetheless extremely reminiscent of what was seen at Kim Il Sung’s funeral  – aside from the…

By Michael J. Mazarr The most significant thing about the dramatic change in North Korea is how little has changed. Kim Jong-il has died, inaugurating a period of complex maneuvering and potential instability within the North’s ruling clique.  The succession to his son Kim Jong-un will be perilous:  The regime’s legitimacy is grounded in personalities,…

By Ken Gause The death of Kim Chong-il does not only mean a transition in leadership as can be seen with the apparent coronation of Kim Chong-un as the successor. It also likely means a change in the leadership structure, which will potentially have a dramatic impact on how Pyongyang makes decisions and how those…