Cablegate: Seoul - Media Reaction

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E.O. 12958: N/A
TAGS: PREL PGOV MARR ECON KPAO KMDR KS US
SUBJECT: SEOUL - MEDIA REACTION

Subject: Media Reaction; Seoul
China

"U.S.-CHINA TRADE CONFLICT THREATENS WORLD ECONOMY"

Moderate Hankook Ilbo editorialized (02/11): "The ongoing conflict
between the U.S. and China, the 'central axes' of the world economy,
are all the more worrisome because we know that the Great Depression
in the 1930s was aggravated and prolonged by protectionism following
disputes between the U.S. and Europe. Furthermore, the euro zone is
currently struggling due to the financial crisis of the PIGS group ?
Portugal, Italy, Greece and Spain ? and Japan's fundamental economic
health has weakened enough to be faced with a credit-rating
downgrade. A 'hegemonic' war" between the G2 will have a fatal
impact on the world economy, which is barely on track to recovery,
and will also dampen our economy which is struggling with a rising
jobless rate."

STEPHENS

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