Han Lin in CNBC: “The U.S. decision to cut fentanyl-related tariffs to 10% addresses a key Chinese grievance.”
TAG China Country Director Han Lin shared that “Beijing’s efforts to curb exports of fentanyl precursors, long unrecognized by Washington, ...
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South Korean Economy Facing Headwinds
The South Korean economy is noticeably sputtering, especially in comparison to stronger post-COVID recoveries elsewhere in Asia.
Korea’s exports are down 15 percent year-on-year. Meanwhile, interest rate hikes by the Bank of Korea (BOK) to stem inflation have been largely successful but have hit the country’s USD 107 billion housing market and construction industry especially hard. Housing prices fell in April for the eleventh straight month and are down about ten percent from their peak last summer. Residential real estate is the largest class of assets for most Korean households, so a drop in values can have a strong and negative wealth effect on household spending.
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Alison Szalwinski in DW: “Washington’s tumultuous trade negotiations — from China to India to Korea — have left many of its Asian allies questioning whether the United States still sees economic integration as a strategic asset or a bargaining chip.”
Han Lin in CNBC: “The U.S. decision to cut fentanyl-related tariffs to 10% addresses a key Chinese grievance.”
Daniel Kritenbrink on CNBC Asia: “The fundamentals of this relationship have not changed, and they’re not going to change today.”
Han Lin in Financial Times: “The cut to fentanyl related tariffs showed Beijing’s efforts to curb exports of precursors of the drug were ‘finally being acknowledged’ in Washington.”