G2 무역전쟁 확산, 흔들리는 세계 경제 - 신상협 교수 대담

To walk us through the impact of this escalating trade war and its potential effect on South Korea, we have with us Professor Shin Sang-hyup from Kyunghee University. Thank you for coming today Professor.

My pleasure.

1 - Let's start with what Trump says quite often. Despite the U.S. turning to protectionism and getting involved in a trade war, Trump says the U.S. economy is the healthiest it has ever been, pointing to the record high stock markets. How should we interpret this and do you think it will continue in the second half of the year?

2 - The trade war has started. Both the U.S. and China have imposed tariffs on their mutual products. The U.S. has announced an additional 200 billion dollars worth of tariffs, and China has said they will have no choice but to do the same. How will things proceed from here?

2a - As we saw in the report just now, the trade war has now reached the WTO. Representatives from Washington have said it is the 'day of reckoning' for China's membership in the organization, and that China's trade practices need to be handled within or outside of the WTO, although it also said the WTO cannot handle such a big issue. Does Washington have a point?

3 - The U.S. and China are South Korea's two largest trading partners. How will this trade dispute affect Korea, and what does the Moon adminstration have to do to prepare for it?

4 - The Bank of Korea has revised its growth forecast for the nation, down to 2.9%, from 3%. Korea's exports have been healthy so far this year, but jobs and investment are way down. How worrying is this new forecast?

5 - One of President Moon's key agendas has been 'income-led growth'. However so far little progress is being seen. How do you think this will progress in Moon's second year in office now?

6 - President Moon has been keen to promote his 'New Southern Policy' agenda during his recent trip to India, and his current visit to Singapore. Can you briefly explain what it is and how it could be important for South Korea?