• Title/Summary/Keyword: Currency War

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미·중 무역전쟁과 G2 패권경쟁 전망 - '1단계 합의' 평가와 무역분쟁 타결 전망

  • Lee, Jeong-Sik
    • 중국학논총
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    • no.65
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    • pp.235-264
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    • 2020
  • 本文稿旨在就世界经济两大支柱体美国和中国在过去2年间持续的贸易纷争的背景和性质, 发展过程以及对两国经济的影响等进行概括总结。与此同时, 本文还将探索贸易摩擦作为G2之间争夺霸权的战争, 是否会波及到日益紧张的南中国海以及台湾海峡的局势。为此, 本文还将就以2008年世界金融危机为起点飞跃发展的中国, 与在冷战后维持单极体制的美国相对抗进而逐渐确立新两国体制的过程, 以及G2格局出现以后, 美, 中新冷战格局形成的过程等进行研究。

The Impact of Exchange Rate on Exports and Imports: Empirical Evidence from Vietnam

  • NGUYEN, Nga Hong;NGUYEN, Hat Dang;VO, Loan Thi Kim;TRAN, Cuong Quoc Khanh
    • The Journal of Asian Finance, Economics and Business
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    • v.8 no.5
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    • pp.61-68
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    • 2021
  • The exchange rate is considered a tool improving the volume of exports and reducing imports. This paper aims to determine the impact of the exchange rate on exports and imports between Vietnam and the United States in the context of the trade war. The research uses Autoregressive Distributed Lag (ARDL) and Nonlinear Autoregressive Distributed Lag (NARDL) Model in the time-series data from 2010:1 to 2020:9. The ARDL's results support that real exchange rate impact on export and import volumes, but less than the trade war. The trade war helps trade balance increase 0.35%, while the exchange rate increases trade balance 0.191% when the Vietnamese currency devalues 1% in the long run. In the short term, the real exchange rate makes the trade balance decrease. Therefore, the J curve exists between Vietnam and the U.S. The NARDL expresses that the exchange rate is asymmetric both in the short term and the long term. The findings of this study point to two important elements. Firstly, the exchange rate plays a minor role in exports and imports. Secondly, trade war plays a vital role in increasing exports and imports volume between two countries, and the J curve exists between the two countries.

The Status Report of a Volunteer Surgical Program in Vietnam (베트남 구순구개열 진료 봉사활동 현황)

  • Lee, Ju-Kyung;Leem, Dae-Ho;Baek, Jin-A;Shin, Hyo-Keun;Eiro, Kubota;Tadashi, Yamamoto
    • Korean Journal of Cleft Lip And Palate
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    • v.11 no.1
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    • pp.23-30
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    • 2008
  • From 2001 year, our department has been participated medical charity for cleft lip and palate patients with Japanese team, on general hospital of Quang Nam Province in Tamky, Vietnam. Also we started medical service with student volunteer in Hue University Hospital, sisterhood relationship with Chonbuk National University, from 2006. The central area of Vietnam is a hard fought-field during the Vietnam war, many chemical weapons (defoliant etc.) were used during war. As the mountain region lose currency, this area was still retarded. We would like to introduce the medical charity service of our department and the classification of operated patients and performed operation.

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A Study of the History of Domestic Precious Metal and Gems Market from Liberation to 1960s (광복~1960년대 국내 귀금속보석 산업사 연구)

  • Hong, Ji Youn
    • Fashion & Textile Research Journal
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    • v.23 no.4
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    • pp.439-447
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    • 2021
  • The purpose of this study is to examine the evolution of precious metal and gem stores, and to derive the characteristics of this period from the government, industry, and consumers. Correspondingly, the contents of daily newspaper articles during this period were analyzed using Naver's news library search engine. The historical development process is as follows. Before the Korean War, precious metal jewelers operated in Jongno, Namdaemun, and Chungmuro, dealing with gold, silver, and platinum. Large stores not only sold jewelry and watches, but also functioned as craftsmen and watch repairers. After the war, a shopping district for precious metals and jewelry was formed around Midopa Department Store. By 1963, the number of jewelry stores in Seoul increased to about 130 and to about 280 by 1966. The characteristics of the government, industry, and consumers are as follows. The government continued to implement a policy to regulate the precious metal and jewelry industry. Despite challenges, the industry exhibited the potential for foreign currency acquisition and growth through domestic amethyst. Consumers could access information regarding precious metal jewelry in daily newspapers. In the late 1960s, various types of jewelry were distributed in line with an increase in income levels.

A Study on Development of Trade Relations and Logistics System between North Korea and China (북한과 중국의 무역과 물류체계 활성화 방안)

  • Lee, Choong-Bae
    • International Commerce and Information Review
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    • v.12 no.3
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    • pp.243-265
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    • 2010
  • North Korea sharing a border with China has developed economic relations with China for a long time. During the cold war(from 1950s to late 1980s), political, military and economic ties between the two countries have become stronger because they had maintained the same political and economic system. However their economic relations have significantly changed after China has adopted market economies since the late 1970s. In particular, trade volume has been shrinked significantly since the late 1990s when China began to ask hard currency payments in their commercial transactions. This paper aims to investigate the conditions and prospects of trade and logistics relations between North Korea and China including the problems existed and then make some suggestions to foster their trade relations. In conclusion in order to develop its trade relations with China, it is suggested that North Korea should make significant changes in its economic and logistics system including infrastructure, institutional schemes, social and trade practices ect. because most problems in bilateral trade have been incurred from North Korea.

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The Latest Trend on Production, Consumption and Price of Non-Ferrous Metals (비철금속(非鐵金屬)의 최근(最近)의 추이(推移))

  • Moon, W.J.
    • Economic and Environmental Geology
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    • v.3 no.3
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    • pp.141-161
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    • 1970
  • The outline of general trend on production, consumption and price of non-ferrous metals during 1969 is summerized in the paper. The production of every non-ferrous metals has increased compare to that of last year, and their consumption except silver has also increased. Specially the rate of growth of production is that; The rate of growth of consumption is such; The prices of gold and silver have decreased since last November due to the stability of international currency and the creation of S.D.R. at I.M.F., but those of other metals have increased, marking the price at the end of 1969 as follows: Cupper price of Foreign Refinery showed ¢72.471/lb(increased 39% per year), lead and Zinc jumped up to the highest price since the Korean War (1951-1953), showing the lead price ¢16.50/lb (increased 27% per year) and the zinc price ¢15.50/lb (increased 15% per year). Price of tungsten was higher than the agreed price that was made between Korea and U.S.A. during 1951 through 1954, showing $63.4/S.T.U. (increased 13% per year). The price of molybdenum was slightly increased from $1.62 to $1.72 (increased 6% per year). In summing up, the year of 1969 was the golden age for the nonferrous metals. It is, hawever, expected that in the next few years, the consumption rate and the prices of non-ferrous metals will be declined compared to those of 1969.

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Concept and Use for Cheongpo and Samseung in the Late Joseon Dynasty -Focused on Goods of the Cheongpo-jeon Merchants- (조선후기 청포와 삼승의 개념 및 용도 -청포전의 판매 물종을 중심으로-)

  • Kim, Soon-Young
    • Journal of the Korean Society of Clothing and Textiles
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    • v.40 no.5
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    • pp.855-866
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    • 2016
  • This study explored the concept and use of two kinds of textiles goods (Cheongpo [blue textile] and Samseung) sold by Cheongpo-jeon merchants in the Joseon Dynasty of Korea. Research was conducted based on an analysis of relevant documents published during the Joseon Dynasty. The Cheongpo-jeon was a merchant group that predated 1637. They sold various imported goods such as Cheongpo, Samseung, cotton textiles, felts, hats, incense, and needles. Cheongpo and Samseung were the main products among these imported goods. Cheongpo was a blue cotton textile imported from China that was sold by Chengpo-jeon merchants. The Samseung sold by merchants was a kind of imported textile whose surface provided a feeling like cotton flannel. The concept of the two textiles were different from existing ideas. Generally, the Cheongpo was believed to be a hemp fabric dyed in blue and the Samseung was a textile with a density of three seung (a traditional density unit of textiles). Cheongpo was used as a currency for war supplies during the two Japanese invasions of Korea (1592 to 1598). In addition, it was also used to make military uniforms, tents, and flags after the Japanese invasion. Samseung was used in the combat uniforms of Chinese soldiers from Ming China during the Japanese invasion of Korea. In addition, it was continuously used to make quilted gambeson amour and some of military uniforms until the $19^{th}$ century.

A Study on the Measures against Risks m International Investment Agreement;Focusing on the Umbrella Clause and MIGA (국제투자계약에 따른 위험대처 방안에 관한 연구;Umbrella Clause와 MIGA를 중심으로)

  • Oh, Won-Suk;Kim, Yong-Il
    • Journal of Arbitration Studies
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    • v.18 no.2
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    • pp.149-171
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    • 2008
  • The purpose of this paper is to examine the Measures against Risks in International Investment Agreement: focusing on Umbrella Clause and MIGA. Umbrella Clauses have become a regular feature of international investment agreements and have been included to provide additional protection to investors by covering the contractual obligations in investment agreements between host countries and foreign investors. The meaning of umbrella clauses is one of the most controversial issues with which international arbitral tribunals have been recently confronted with while adjudicating investment disputes brought before them MIGA issues guarantees against non-commercial risks for investments, such as: currency transfer restrictions, expropriations, war and civil disturbances and breach of contract by host governments, and the case that the investor obtains an arbitration award or judical decision for damages and is unable to enforce it after a specified period. Furthermore, MIGA undertakes a wide range of mediation activities designed to remove obstacles to the flow of foreign direct investment in its developing member countries.

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Global Project Finance Trends and Commercial Risk Analysis (글로벌 프로젝트 파이낸스 최근 동향 및 상업위험 분석)

  • Kim, Sang Man
    • THE INTERNATIONAL COMMERCE & LAW REVIEW
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    • v.61
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    • pp.273-302
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    • 2014
  • Project finance ("PF") is a method of raising long-term debt financing based on lending against the cash flow generated by the project alone. Project finance is a nonrecourse or limited recourse financing structure against the sponsors(or the investors). The debt terms in a project finance are not based on the creditor's credit support or on the value of the assets of the project. Lenders rely on the future cash flow to be generated by the project for debt repayment and interest, rather than the value of the project or the credit ratings of the sponsors. The non-recourse or limited recourse financing usually prompt potential project finance lenders to assess carefully all possible risks that might arise in a project to ensure that those risks are mitigated and controlled. In this respect, project finance is a opposite financing method of corporate finance. Project finance has rapidly grown over the last 20 years due to the worldwide process of privatization of public sector and development of natural resources. Global project finance volume reached the record USD 406.5 billion in 2011. In 2012, however, Global project finance volume dropped 6% to USD 382.3 billion. Infrastructure overtook Energy to lead all sectors with USD 113.6 billion. It is generally recognized that there are more and higher risks in project finance compared with corporate finance. Project finance is exposed to commercial risks as well as political risks. The main commercial risks are completion risks, environmental risks, operating risks, input supply risks, revenue risks, etc, and the main political risks are currency convertibility and transfer risks, expropriation risks, war and civil disturbance risks, risks of breach of government concession agreement, etc. Completion risks include permits risks, risks relating to the EPC Contractor, construction cost overrun, delay in completion, inadequate performance on completion, etc.

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Virtual Crisis Preparation Team : A Way to Improve the Crisis Management Vulnerabilities of Traditional Korean Organizations

  • sangjin Yoo;Sean B. Eom;Lee, Choongkwon
    • Journal of Korea Society of Industrial Information Systems
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    • v.4 no.1
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    • pp.87-96
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    • 1999
  • Korea, one of the members of the Organization for Economic Cooperation and Development (OECD), has been one of the fastest growing countries in the world since World War Ⅱ. However, Korea has recently suffered from an economic crisis which has been mainly attributed to a fluctuating foreign currency rate. The future of Korea relies on how the country prepares and copes with the crises. There have been enormous effort to solve current economic crisis. However, preparation to the anticipated crisis is much more important than solving problems after the crisis. Recently, the virtual crisis preparation team approach appears to be one of the effective alternatives to cope with various crises. The objectives of this study ale to (1) show that crisis preparation is very important factor for the Korean government to one with the current and future crises; (2) to prove that the virtual crisis preparation team is one of the better alternatives to solve crisis; (3) to suggest a virtual crisis preparation team model can be adapted to the Korean situation.

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