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.

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