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Prospects for US Economy and ROK-US Trade Relations

Prospects for US Economy and ROK-US Trade Relations

Prospects for US Economy and ROK-US Trade Relations

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Prospects for US Economy and ROK-US Trade Relations
Cho Yong-kyun
Professor, IFANS

Prospects for US Economy and ROK-US Trade Relations
   The US economy overcame the post-September 11 shock rather early and has made a relatively quick rebound since the fourth quarter of 2001. US economic recovery, however, will remain somewhat slow for a considerable time until the causes of the current economic recession are rectified—that is, until information technology (IT) inventories are reduced and sluggish investment fully recovers. 
   The structure of Korea-US trade relations leaves room for friction, as Korea’s trade with the United States is disproportionately concentrated in a small number of key export items to the United States. The United States is expected to conduct active trade policies through the conclusion of free trade agreements (FTA). This makes it necessary for Korea to closely examine the possibility of an FTA with Washington. Trade issues are becoming multilateral issues. Korea-US trade relations must thus make a leap from the bilateral plane to the multilateral level, and Korea should expand bilateral cooperation with the United States using the multilateral fora. Korea should foster trade experts to this end.

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Past Publications

오럴히스토리총서

9·11 테러

Professor

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Cho Yong-kyun

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ENG