South Korea, an Asian industrial giant known for its efficiency, this month provided a political drama of unbelievable blundering even as its president exhibited a surreal disregard for constitutional propriety. On December 3, embattled president Yoon Suk Yeol, who was impeached Saturday, declared martial law. But in a comedy of fortunate errors, transport helicopters for special army troops were delayed by 40 minutes because they did not have clearance from the air force to enter a no-fly zone near parliament. In that time, lawmakers repealed Yoon's declaration of martial law. Huge crowds appeared outside parliament to protest against martial law, forcing Yoon to withdraw the order hours later.
Prime Minister Han Duck Soo has stepped in to act as interim leader while a court decides on the validity of Yoon's impeachment for his attempt to impose martial law. Yoon's tenure since 2022 had been characterized by Gangnam-style clumsiness and ineptitude. Even so, lessons loom large for several reasons. Across the world, growth is slowing. Korea posted 0.1% quarter-on-quarter GDP growth for the third quarter, just as Germany did this week, with the German Bundesbank slashing forecasts. This is bad news for an incumbent government anywhere, as Olaf Scholz's coalition, which lost a confidence vote this week, in Germany is likely to learn when early elections are held in February.
この記事は Mint New Delhi の December 19, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Mint New Delhi の December 19, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Three workplace trends have seen hype overtake the reality
Return-to-office, AI adoption and DEI dumping are all overhyped
In 2025, India must play the role of peacemaker
The New Year has brought a grim reminder of terror as a threat even as war rages in West Asia, Europe and elsewhere. India must push for UN reforms, global principles and peace
Predictions for 2025: It's best to take them with a bucket of salt
It's super easy to make forecasts but the truth is that nobody really knows how things will turn out
India Versus Global: A Balanced Approach for NRI Investors
NRIs should classify their goals into three categories: safety, stability and aspirations
A 32-Year-Old's Journey From Modest to 10x SIP Investment
An early start, discipline have helped Navi Mumbai woman's portfolio to grow at 21% CAGR
Is Quick Commerce Running Over Kirana?
Kiranas remain sizeable in number, but their footprint and influence on the economy has waned
Should a CA buy professional indemnity insurance?
I am a newly qualified chartered accountant. I would like to start my own practice, which would focus on audit and advisory services. Would it make sense for me to buy professional indemnity insurance? How would it help?
Bhopal gas tragedy: Toxic waste moved
The authorities said on Thursday they had completed moving toxic waste from the site of the 1984 Bhopal gas leak disaster, which killed more than 5,000 people, to a disposal facility.
DMart's Q3 revenue up 18% to ₹15,565 cr
Avenue Supermarts Ltd, which owns and operates retail chain DMart, has reported a 17.5% increase in standalone revenue from operations at ₹15,565.23 crore for the third quarter ended 31 December 2024.
Morgan Stanley quits climate group
Morgan Stanley said it has quit a global climate-banking group, joining other Wall Street firms to have left an alliance designed to support the reduction of greenhouse-gas emissions.