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Economy

Peter S. Kim: Will South Korea choose long-term economic reform or band-aid solutions?

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A woman walks in Myeongdong shopping district in Seoul.   © Reuters

After almost four years of Abenomics, global investors are increasingly showing reservations about the effectiveness of zero interest rate policies as a reflationary tool. The missing link has to be the "third arrow" of Abenomics -- a proposed agenda of labor, trade and other structural reforms. In China, the rapid lowering of interest rates and required bank reserve rates has merely served to ramp up corporate debt, raising concerns about souring loans down the line.

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