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'It's the economy, stupid'

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By Park Moo-jong

The headline of this column must be still familiar not only to Americans but to our readers as Bill Clinton's triumphant presidential campaign slogan of 1992.

Twenty-six years later in 2018, the quipping mantra made by Clinton's aide James Carville speaks for the aggravating global economy amid a worldwide tension over a trade war ignited by U.S. President Donald Trump.

However, the already old-fashioned phrase best describes the economic situation the Republic of Korea now faces, though the Moon Jae-in administration is definitely reluctant to agree on the recession the majority of people, particularly those in the low-income brackets, experience in their daily lives.

Millions of young people are unemployed, showing the highest jobless rate in decades and working people are barely holding their own, with many people, except for the supporters of the incumbent government, feeling their country is moving in the wrong direction.

Few can deny that Korea Inc. is losing its competitiveness in global competition and the phenomenon is reflected in anemic economic growth.

Yet, the chefs who cook the economy make only unsavory dishes, patting themselves on the back, without knowing what's going on and resisting listening to the one voice of ordinary citizens about the sagging economy.

Common people suffering from the worsening........

© The Korea Times