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South Korea's Economy Faces 'Perfect Storm' Amid Japan Trade Dispute And Plunging Exports

WorldNews Friday, 23 August 2019
South Korea's Economy Faces 'Perfect Storm' Amid Japan Trade Dispute And Plunging ExportsAs the foreign ministers of China, Japan and South Korea gathered for trilateral talks in Beijing on Wednesday to improve relations, a stark reminder came of the perilous situation South Korea’s economy is in, the South China Morning Post reported. Exports for the first 20 days of August fell 13 percent from a year earlier, signaling a ninth successive monthly decline. Within the headline figure, two numbers illustrate the “perfect storm” facing the country: sales of semiconductors – one of its most valuable exports – fell 30 percent, while exports to China – its largest trading partner – fell 20 percent. Both an exporting and electronics powerhouse, South Korea’s economy is...
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