Resource Crisis

This article caught my eye this morning.  Lee Myung bak is pointing to external threats to take heat off him, quite obviously, and I think the Korean economy is a lot stronger than this administration (and the previous) say publicly (although I think a resource crisis inflationary effects will hit marginals and less well off in the short term definitely).  The IMF crisis still looms large over policy makers heads and I understand this pessimistic expectation management.  What with the front page pictures in the New York Times and FT (Asia edition at least) yesterday, these are tough times indeed for the administration.

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