The Korean economy seems set to continue its recent improving trend, but it will be no easy matter for it to shift to a full-fledged recovery track given the several destabilizing factors that still exist both at home and abroad.
I remind you that in the spring, many voices questioned what good rate cuts, forward guidance, asset purchases, and lending programs could do in an economy in which people do not venture out to buy cars or build houses and in which companies do not invest to augment their capital stock.