EDITOR'S INSIGHT: How Korea plays tough over trade

Prime Minister John Key was correct to upbraid South Korea as an “ungrateful country”.

Since the end of the Korean War, where New Zealanders gave their lives 60 years ago, South Korea has pursued a relentless mercantilist policy that favours its industrial and manufacturing sector while protecting its agricultural producers.

This export-only model has made Korean cars, heavy equipment, electronics and appliances familiar around the world. But in return, Korea imports little except for oil and natural gas – two commodities it lacks.

 

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