Of course, this is a purely cyclical event, and will reverse in time, but it is an important channel whereby a US imbalance transmits itself to the world economy.
And there have thus been active discussions recently on the weakened linkage between economic activities and prices, and on the changes in inflation dynamics that have led to talk of so-called “missing inflation.” In Korea as well, our economic activities continue to improve steadily, thanks to the favorable global conditions for example and despite the recent uncertainties surrounding our domestic and overseas conditions.