Forbes publisher says America needs someone like President Lee as the next U.S. president

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2008-03-30 15:15

Seoul--(뉴스와이어)--In connection with an interview with President Lee Myung-bak published by the Financial Times on March 24, Rich Karlgaard, the publisher of Forbes magazine wrote a commentary on the same day in his Digital Rules column, a regular feature of Forbes.com, entitled "America Should Be So Lucky."

In this column, he expressed agreement with President Lee's economic philosophy such as growth simulated by tax cuts and the power of small businesses.

In particular, he underscored the urgent need, in the face of the current economic downturn, for the American presidential hopefuls to grasp the South Korean President's prescription for economic revitalization.

http://blogs.forbes.com/digitalrules/2008/03/america-should.html

America Should Be So Lucky

Wouldn't it be cool if America elected a president in November who said things like this:

"Business is the foundation of the economy, and the economy will recover only when business activities are re-energized," Mr. Lee said in a wide-ranging interview over the weekend. "And business here means big and small companies--and the workers and management of the companies."

Unfortunately, this guy is not available. He is South Korea's President Lee Myung-bak, the former CEO of Hyundai Construction.

According to this morning's Financial Times, Mr. Lee promises to

...transform Asia's third-largest economy through a mixture of tax cuts, deregulation and privatization, sticking to his promise to boost economic growth to 7 percent a year despite the global market turmoil.

Growth! Simulated by tax cuts! Imagine that! Mr. Lee, do us poor Americans a favor. Please call Mr. Obama and Ms. Clinton.

What impresses me even more about Mr. Lee's vision is his belief in the power of small businesses. More from the Financial Times story:

He dismissed claims that he would favor the country's chaebol conglomerates as he tried to revive the economy.

"The government believes that big companies have to continue to develop themselves, while small and midsized companies should be made healthier so they have their own competitiveness."

This is not typical thinking from South Koreans, but it is absolutely correct. Now might be a good time to poke at a South Korean exchange-traded fund, such as this one.

What do you think? Why do Obama and Clinton and occasionally McCain fail to grasp that (in the words of Mr. Lee) "the economy will recover only when business activities are re-energized."

Post your comments below.

웹사이트: http://www.president.go.kr

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