At a recent conference in Seoul, Jim Rogers pleaded with South Koreans to “get on with it” so that South Korea increases its population for the sake of the economy.
“Anyone who hasn’t done it, I urge you to get home and get on with it”
According to recent UN reports, South Korea’s birth rate (1.2 children/ couple) is the second lowest in the world with Hong Kong being the lowest.
“Korea needs to increase its birth rate for the sake of the economy. So do Japan and other key Asian nations”
Jim has constantly used South Korea’s previous financial meltdown as a model for the U.S. In its financial crisis, South Korea took big short term “hits” by letting banks fail and letting the market work itself out. This is the complete opposite of what the current U.S government is doing and what Japan did in the 90′s by constantly bailing out firms and thus creating “zombie” companies.
Source: http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_pesek&sid=aIHYcaDedTlg
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