While we shed 500,000-700,000 jobs each MONTH, countries that actually make stuff and have trade policies that do not kill thier domestic manufacturers, are doing well in this depression.
“July 24 – Financial Times (Christian Oliver and Tim Johnston): “ South Korea posted its strongest growth in five and a half years during the second quarter… South Korea’s economy grew 2.3% in the second quarter compared with the first… echoing positive gross domestic product trends reported by China, Singapore, Vietnam and Kazakhstan.”
South Korean exports, which slumped from late last year as consumers overseas cut spending amid the global downturn, have shown signs of improvement in recent months. The country’s trade surplus has been hitting record highs.”
Those Hyundai ads are working great and it shows in Korea’s finacial good fortune.
Who would have thought that actually making the stuff your citizens buy would turn out to be such a good plan?
Enjoy your Hyundai! Enjoy your “fair trade” and “free market” while korea laughs all the way to the bank with your money. Korea loves you; your grand children may not be as thrilled with you.
At least you did not have to drive a Malibu or a Fusion right?
