Your supply chain is only as strong as its weakest link: extraneous circumstances can quickly plunge even the strongest economies into disarray, as recently proven by COVID-19. Fortunately for the economies of the world, the coronavirus was indiscriminate in its economic impact, leaving the leading economies of the world with mostly the same struggles and as a result not creating significant economic-geopolitical shifts. South Korea however now finds itself at the frontline of the US-Chinese trade war, where escalation could cause significant supply chain disruptions - an extraneous variable which would leave the South Korean economy in a uniquely difficult situation. The likelihood of a second Trump presidency will only reignite and accelerate the intensity of the US-Chinese trade war, with an increase in tariffs, sanctions and geopolitical escalation meaning South Korea must act swiftly.
October 15, 2022
Diplomacy
Diplomacy