Tag Archives: South Korea

News

South Korea and Canada face massive demographic crisis

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South Korea

Story from LifeSiteNews. (H/T Andrew)

Excerpt:

The Republic of Korea has signaled its willingness to work to reverse a heavily pro-abortion culture through various measures, including beginning to enforce an abortion ban that has technically existed in the country for decades, in order to address the severe demographic implosion that threatens the country’s economic stability, Korean sources report.

[…]Official data from the Ministry of Health indicates that doctors perform 350,000 abortions per year, while they deliver on average just 450,000 babies, meaning 43.7 percent of pregnancies end in abortion.

However, the actual number of abortions may be at least five times the official estimate. According to the Korea Times, Rep. Chang Yoon-seok of the ruling Grand National Party said that a National Assembly inspection in October found that the number of illegal abortions in Korea exceeds 1.5 million a year or roughly 4,000 babies aborted per day.

If the National Assembly’s estimate is correct, the nation of 48 million commits approximately the same number of abortions as the United States, which has 300 million residents. Presuming the numbers of births recorded by the Health Ministry remains the same, that would mean approximately three out of four pregnancies in South Korea end in abortion.

Perhaps we need to undo anti-family policies like legalized abortion, unilateral divorce, high tax rates and a massive social programs. These policies discourage marrying and child-bearing, which prevent the creation of the next generation of taxpayers who must pay for these expensive welfare-state programs.

Canada

New research paper from the center-right C.D. Howe Institute. (H/T Andrew)

Excerpt:

The twin demographic challenges of an aging population and slow workforce growth will affect Canada’s Atlantic provinces more acutely than other regions of the country, according to a study released today by the C.D. Howe Institute. In “Stress Test: Demographic Pressures and Policy Options in Atlantic Canada,” authors Colin Busby, William B.P. Robson and Pierre-Marcel Desjardins warn that many years of low birthrates and youth outmigration mean that the Atlantic region faces diminished workforce growth and a fiscal squeeze as fewer taxpayers support a growing bill for public programs.

Massive numbers of elderly people retiring and very few young workers available to pay the taxes for their health care and retirement entitlements. Something has to give.

News

Obama’s naive trade policy angers Canada, China, France, Mexico, etc.

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The economic effects of massive government waste and naive protectionism
The economic effects of massive government waste and naive protectionism

(Source: Wall Street Journal)

The Wall Street Journal explains the high costs of economic ignorance.

Excerpt:

The smell of trade war is suddenly in the air. Mr. Obama slapped a 35% tariff on Chinese tires Friday night, and China responded on the weekend by threatening to retaliate against U.S. chickens and auto parts. That followed French President Nicolas Sarkozy’s demand on Thursday that Europe impose a carbon tariff on imports from countries that don’t follow its cap-and-trade diktats. “We need to impose a carbon tax at [Europe’s] border. I will lead that battle,” he said.

Mr. Sarkozy was following U.S. Energy Secretary Steven Chu, who has endorsed a carbon tax on imports, and the U.S. House of Representatives, which passed a carbon tariff as part of its cap-and-tax bill. This in turn followed the “Buy American” provisions of the stimulus, which has incensed much of Canada; Congress’s bill to ban Mexican trucks from U.S. roads in direct violation of Nafta, prompting Mexico to retaliate against U.S. farm and kitchen goods; and the must-make-cars-in-America provisions of the auto bailouts. Meanwhile, U.S. trade pacts with Colombia, Panama and South Korea languish in Congress.

The article goes on to explain how the Smoot-Hawley tariff helped cause the Great Depression. This is exactly the path that President Teleprompter is treading. He is taking us head-first into the next Great Depression because he knows less about economic policy than my keyboard. He did legal work for ACORN, for God’s sake – have you seen who ACORN hires? I’m sure that woman can read a Teleprompter, too.

What do economists think of Obama’s economic policies?

I noticed this post on Greg Mankiw’s blog, where links to a survey of economists.

Click here to read the results of a new survey of AEA members. This updates previous survey results, summarized in Chapter 2 of my favorite textbook.

Note that 83 percent agree that “the United States should eliminate remaining tariffs and other barriers to trade.” I presume that would apply to tariffs on Chinese tires.

Greg Mankiw is a Harvard University professor of economics.

UPDATE: New Michele Bachmann video!

Wow, is she ever pretty when she’s explaining free trade! Sigh.