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Columns » Jayati Ghosh
The Credit Bubble
Korea’s debt mountain
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SeongJoon Cho/Bloomberg At the Namdaemun market in Seoul. A 2012 file picture. Debt-financed consumption has become the main impetus for markets in South Korea.

In South Korea, the familiar shenanigans of the globalised financial industry create a credit-driven consumption bubble that is now on the verge of bursting.

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Countries and economies fail and come back. But one thing is common ad consistent. Rich getting richer and poor getting poorer.
from:  Nasar
Posted on: Jun 21, 2013 at 16:38 IST
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