Several downsides to economic cooperation between US and South Korea
When the leaders of South Korea and the United States met last month, Moon Jae-in was only the second foreign leader to visit the White House during the Biden administration. It was a signal of how important Asia is to the new president, as he tries to extricate the United States from various messes in the Middle East.
The summit featured the obligatory affirmation of the bilateral military alliance and the joint determination to denuclearize North Korea.
But the real motivation behind the summit was economic. As they rebound from last year’s COVID-19 downturn, the United States and South Korea are increasingly relying on each other to stabilize supply chains and grow their respective economies.
After the disastrously inept policies of the Trump administration – the initial row over trade, the…