Harvard economist advises Lee to boost domestic demand

SEOUL, Nov. 4 (Yonhap) -- Martin Feldstein, a professor of economics at Harvard University, said Tuesday that he is convinced South Korea will be able to revitalize its sagging economy after successfully riding out the global financial crisis under the leadership of President Lee Myung-bak.

Feldstein, a policy advisor for U.S. Republican presidential candidate John
McCain, made the remark during his courtesy call on President Lee at the
presidential office, according to presidential spokesman Lee Dong-kwan.
The spokesman also quoted the Harvard economist as recommending that the Lee
government take policy measures to boost domestic demand and diversify its export
markets in the face of the slump in its traditional export markets, such as
China.
The president also listened to Feldstein's opinions on the global economic
outlook, particularly related to the ongoing credit crunch, said the spokesman.
ycm@yna.co.kr
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