SEOUL – Renowned international economist Lee Hyun-hoon, Professor Emeritus at Kangwon National University, has released a compelling new book, "Absolute Crisis: Republic of Korea Inc.," which delves into the critical challenges facing the South Korean economy and proposes pathways for its future.
Lee Hyun-hoon, who also heads the Fourth Way Research Institute and hosts the popular YouTube channel "Lee Hyun-hoon's Economic Forum," provides a comprehensive analysis of the crises confronting South Korea. His work paints a picture of an economy struggling to maintain its footing amidst global economic shifts, indicating a trajectory towards increasingly dire circumstances.
The book is structured into four main sections, each meticulously examining different facets of the South Korean economy. Lee employs objective data to underscore the necessity of understanding the nation's current economic position from a broad perspective.
The book begins by addressing four critical "new normals" facing humanity: the digital revolution, population aging, social polarization, and the climate crisis. It then transitions to discussing the resurgence of global economic instability, drawing parallels to past economic downturns and examining the potential impacts of a "Trump 2.0" era on global politics, diplomacy, and economics.
Further sections dissect the structural issues within the South Korean economy, including demographic challenges, increasing social disparities, household debt, and educational problems. Finally, Lee offers potential solutions to these domestic and international crises, drawing on examples from other countries to illustrate strategies for adapting to current global trends.
"This book aims to alert the public to the severe ailments afflicting the South Korean economy, which was once lauded as a global model, and to explore viable solutions," Lee explains. "Before discussing the specifics of the South Korean economy, it is essential to understand the broader global economic landscape and the significant transformations humanity is undergoing."
Published by Matebooks, the book is available for 21,000 won and spans 388 pages. It offers a critical yet constructive look at South Korea's economic challenges and potential future directions.
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