The Biggest Bottleneck in Overcoming the Current Crisis is Gov"t
The biggest bottleneck in overcoming the current economic crisis is the government's inconsistent economic policies and over-regulation.According to the results released on September 24 of a survey by the Federation of Korean Industries (FKI) of 1,000 people, more than 70% among the respondents replied 'difficult' on the likelihood that Korea can overcome the IMF's management within two years, announced recently by President Kim Dae Jung.
It appears that negative (51.3%) and affirmative assessment (48.7%) are mixed regarding the current administration's capability in solving economic problems.
Regarding the cause of the current economic crisis, 39.6% of the respondents answered 'political-business nexus' followed by the government's failure to implement a sound economic policy (26.0%), chaebols' irrational investments(20.3%), uneconomical consumption by people (7.1%) and the friction between labor and management (0.9%).
with the Korea JoongAng Daily
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