Welcome to Within The Frame, where we bring today’s most pressing issues across the globe, I’m Kim Mok-yeon.
As we look back on 2024, it’s clear that this year has been marked by a series of pivotal moments shaping the global economy.
From ongoing geopolitical tensions to technological advancements and shifting trade policies, the world economy has navigated a complex landscape of recovery, challenges, and opportunities.
Central banks, faced with inflationary pressures and political uncertainty, have made critical policy decisions, while technological innovations in AI and digital currencies are reshaping industries across borders.
Meanwhile, in the U.S., the return of Donald Trump to the political stage has sparked new debates about trade policies, tariffs, and their potential global impact.
For more on these key events and what they mean for the future, we invite Shim Myung-kyu, Associate Professor of Economics at Yonsei University. Welcome.
Also joining us is Lee Seo-hyun, Associate Professor at the KDI School of Public Policy Management. Great to have you.
(Shim) 1. So Professor Shim. Let’s start with your evaluation of how the global economic recovery fared in 2024. Were there any regions or industries that stood out in terms of growth or struggle?
(Lee) 2. For South Korea specifically, how did its economy perform in 2024 amidst global uncertainties and domestic political challenges?
(Shim) 3. As for South Korea, the Bank of Korea cut the benchmark interest rate by 0.25 percentage points in October, making a long-awaited policy pivot after more than three years. How effective is it, and should we expect more cuts in the coming year?
(Lee) 4. The South Korean currency dipped further against the U.S. dollar to its lowest level in nearly 16 years Friday amid a deepening political crisis and growth woes.
The Korean won fell to 1,471.8 won Friday. Could you tell us about how the Korean currency fared over the year and which factors brought it to the latest dip?
(Lee) 5. Supply chain disruptions have been a major issue in Korea for the past few years, but have there been improvements in 2024? What sectors saw the biggest recovery, and which ones are still struggling with bottlenecks?
(Shim) 6. Now in just weeks, Trump will return to the Oval Office. How likely is it that Trump’s tariff strategy will push companies like Samsung, SK hynix, and TSMC to shift production to the U.S.? What economic implications could this have for the global supply chain?
(Lee) 7. Several central banks around the world, including those of Japan, Taiwan and Russia, have frozen rates despite economic challenges like inflation. Many of them mentioned the “Trump Factor” in their monetary policy decisions. How do you read into this?
What are the potential long-term consequences for economic growth and inflation?
(Shim) 8. In terms of technological advancements, 2024 has been a pivotal year for AI, digital currencies, and automation. How do you think these developments are reshaping global economic structures?
(Lee) 9. With the war in Ukraine, the global energy market also saw turbulence in 2024, with fluctuating oil and gas prices. What impact has this had on economies around the world, especially in terms of inflation and energy transition policies?
(Shim) 10. Following Trump’s election win, the price of Bitcoin reached an all-time high, but now the price is fluctuating. How do you foresee the crypto market in the coming year?
(Lee) 11. What strategies should policymakers focus on in 2025 to ensure economic stability in Korea?
(Shim)12. As we look ahead to 2025, what are the key economic risks or opportunities that we should be prepared for?
Source : Arirang TV, https://www.arirang.com/news/view?id=279417
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