Saturday, December 04, 2010
Under the threat of imminent war, compounded by overtly provocative naval maneuvers, the United States pushed through what was thought to be a tenuous free-trade agreement with South Korea.
Indeed, headlines dominating Korean papers included “Military readies live-fire drills to deter North’s provocations” from Yonhap News Agency, and “Defense chief-nominee vows air strikes if attacked” from The Korean Times, as the largest US free-trade agreement since NAFTA silently slipped through.
The free-trade agreement had been shelved during the previous Bush administration three years ago on the heels of massive South Korean street protests and again rebuffed during President Obama’s acrimonious visit to Seoul last November. Now signed, the agreement will make it easier for US corporations to enter Korean markets. This includes the US’s parasitic banking sector, a prospect that might off-set efforts by Korea’s Ministry of Finance to close their markets to the dangerous speculation that has begun a collapse in the West.'
Posted by DotConnector at 07:39