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Mounting Uncertainties in the Global Trade Order and Korea's Policy Response

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  • Song, Yeongkwan

Abstract

The US-China trade war is propagating uncertainties within the global trade order, weakening global value chains and the WTO system. These uncertainties pose a considerable threat to the Korean economy which is heavily dependent on foreign trade. To tackle this, the Korean government needs to positively consider joining the CPTPP and make efforts to improve the effectiveness and efficiency of policies for the materials and components industries as well as export support.

Suggested Citation

  • Song, Yeongkwan, 2020. "Mounting Uncertainties in the Global Trade Order and Korea's Policy Response," KDI Focus 98, Korea Development Institute (KDI).
    • Handle: RePEc:zbw:kdifoc:98
    DOI: 10.22740/kdi.focus.e.2020.98
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    References listed on IDEAS

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    1. Hiau Looi Kee & Alessandro Nicita & Marcelo Olarreaga, 2008. "Import Demand Elasticities and Trade Distortions," The Review of Economics and Statistics, MIT Press, vol. 90(4), pages 666-682, November.
    2. Chuk Kyo Kim, 2019. "Economic Development of Korea," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 11117, September.
    3. Pablo D Fajgelbaum & Pinelopi K Goldberg & Patrick J Kennedy & Amit K Khandelwal, 2020. "The Return to Protectionism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 135(1), pages 1-55.
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