Chinese Tourists to South Korea Drop 40 Percent in March Amid THAAD Row
It’s official – new numbers from March confirm that China’s THAAD retaliation has significantly cut into South Korea’s tourism industry.
It’s official – new numbers from March confirm that China’s THAAD retaliation has significantly cut into South Korea’s tourism industry.
A question frequently asked is whether the next South Korean administration will tilt towards China and away from the United States, based on Seoul’s purportedly shifting perception of the relative importance of the two countries. In reality, it is not helpful to judge whether the United States or China are more important to the Republic of Korea. There is no simple reply to the general question and, honestly, there is no reason to answer it.
Attempting to contest rumors in Seoul that the U.S. would name Korea and/or China a currency manipulator for political reasons, last month I argued against both the possibility of such a decision and the scope of its financial impact. Thankfully, my points on the latter were not necessary.
Full first quarter data on trade between North Korea and China is not yet available, but data released by China’s General Administration of Customs raises interesting questions in regards to ongoing trade between China and North Korea.
Ever since the decision last summer to install THAAD on the Korean peninsula, China has strongly opposed the system. But instead of keeping the dispute in the political sphere, China has started to show its ire by imposing sanctions on Korean pop culture (Hallyu) content.
On April 6-7, U.S. President Donald Trump will host Chinese President Xi Jinping at his Mar-a-Lago resort for their first summit meeting.
Since South Korea announced the deployment of THAAD, China has been harassing South Korea through various channels.
KEI Communications Director Jenna Gibson, host of the KEI podcast Korean Kontext, recently interviewed Yun Sun, Senior Associate with the East Asia Program at the Stimson Center, about the Chinese perspective on the THAAD missile defense system.
Much like China’s undeclared sanctions against South Korea for the deployment of THAAD (Terminal High Altitude Area Defense), North Korea may be doing the same to China.
After nearly nine months of suspicion and speculation about Chinese economic retaliation for South Korea’s decision to deploy THAAD, it seems Beijing has finally taken its gloves off.