Word: koreas
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Dates: during 1980-1989
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WASHINGTON--President Reagon pronounced has visit to Japan and South Korea a success yesterday, saying that "America's partnerships are stronger and prospects for a more secure peace and prosperity are better today than a week...
...Pacific surge is the strong recovery of the U.S. economy, which has been expanding at an 8.8% rate over the past six months and generating many new jobs. The Government announced last week that U.S. unemployment dropped from 9.3% to 8.8% in October. With Americans spending freely again, South Korea's exports to the U.S. are up 34% this year, while Taiwan's have increased 20%. But demand in Western Europe and Japan remains weak. Warned Lawrence Krause, a senior fellow at the Brookings Institution in Washington, D.C.: "The world needs growth in Europe and Japan...
...South Korea. Political flux seems to have become the norm in South Korea. Last year President Chun Doo Hwan ousted half of his 22-member Cabinet after a scandal arose involving illegal loans and fraud by moneylenders with connections to his government. On a visit to Burma last month, 14 leading South Korean officials, including four Cabinet ministers, were killed in a terrorist bombing...
Even with the upheavals, South Korea's economic prospects continue to be remarkably bright. After a sharp recession in 1980, the government launched a major public construction program that included housing projects, commercial buildings and a subway for the capital city of Seoul. The spending helped boost South Korea's growth rate...
...stimulus was so successful that President Chun has decided to cool the economy to prevent inflation, now coasting at an annual rate of 2.3%, from speeding up. The government will hold 1984 spending to 1983 levels. Board Member Suh Sang Mok, a senior researcher at the Korea Development Institute, predicted that, even with the new austerity program, his country would have 8% growth in 1984. He was optimistic about the government's ability to recover from the Burma bombing. "The policymakers who replaced the old Cabinet share the same philosophy," he said, "so our present economic directions will...