If any country was the ultimate exemplar of globalization, it’s South Korea
It’s notable that the list of normally stable and healthy democracies now mired in serious political uncertainty — France, Germany, Japan, South Korea — reads like a roll call of the greatest beneficiaries of the postwar Pax Americana economic order that now appears to be ending.
If any country was the ultimate exemplar of globalization, it’s South Korea.
This probably isn’t a coincidence. These nations face a big test, and electorates and political establishments are fragmenting under pressure.
Countries around the world have punished incumbents this year.
At present, it looks like Yoon’s bid for power rather resembles the coup against Mikhail Gorbachev by Communist hardliners in 1991,
Moscow coup 1991: With Boris Yeltsin on the tank
How the Tumultuous ’90s Paved the Way for Putin’s Russia
The hopes for a partnership between Russia and the West have been dashed, and in “Who Lost Russia?” Peter Conradi, the foreign editor of The Sunday Times of London, who spent seven years covering Russia for Reuters, seeks to explain what went wrong.
Conradi starts with Gorbachev’s reforms, the fall of the Soviet-backed Communist states in Eastern Europe (in 1989), the Soviet Union’s implosion (1991) and the Yeltsin years (the 1990s).
He describes the Russian economy’s crash and the penury millions of Russians endured.
He recounts the privatization of state-owned industries and the accompanying corruption and Ponzi schemes of unscrupulous men who hijacked the process, enriched themselves and eventually became oligarchs.
New York Times
which failed quickly and precipitated the fall of the Soviet Union.
John Authers Bloomberg 4 December 2024
Tillbaka till Rolfs länktips 4 december 2024
https://englundmacro.blogspot.com/2024/12/rolfs-lanktips-4-december-2024.html
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