The Chosun Ilbo has a report on the gloomy looking results of a government taskforce research initiative called “Vision 2030”.
It concluded that there are three obstacles blocking Korea’s path towards becoming a developed country:
- Lack of powerful leadership and policy consistency
- Prolonged labour disputes and hostile labour relations
- Fierce conflict between the government and opposition.
I think they missed the point a little because they above are all potentially short term economic conditions. Perhaps they predicting that the knock on effect of Roh’s weak leadership will have a 30 year knock on effect. I hope not.
It seems like they did not even factor in the following:
- Capital cost necessary to either prop up/integrate North Korea for the next 30 years.
- An aging population and rapidly decreasing birth rate.
- The need to evolve from manufacturing focussed industries towards services.
Personally I think looking so far into the future is a waste of time because there are simply too many variables to consider.
I do however like the illustration they put beside the story.