(EDITORIAL from the Korea Times on Dec. 31)

Seeing 2008 out

Every year is filled with big events when looked back on at its close. The
passing one, however, seems to have reserved some places in history for at least
two reasons: The world is reeling under a once-in-a-century economic turmoil; and
America, still the biggest power on the planet, elected its first black leader in
its 232-year history.

Except for a violent quake that hit China in summer, the world was relatively
free from natural disasters this year. The crisis now affecting the lives of
billions of global villagers is man-made taking its root in humans' insatiable
greed and egocentric behavior over the nearly three decades of economic
neo-liberalism. So the ongoing turbulence might be a blessing in disguise if it
could turn this world from bipolarizing materialism resulting from idolatry of
the market into a more equitable, humane and reasonable place to live.
Korea, unfortunately, seems to be one of the few countries running against this
stream. Squeezed between two financial crises ??? one regional and the other
global ??? the nation's fledgling liberalism, or social capitalism, has turned
back to neo-liberal conservatism ??? after just a decade of half-baked
experimenting. Koreans, once proud of themselves for having achieved both
democracy and capitalism in just a generation, are learning the hard way that
there is no shortcut.
It seemed as if everything would be okay when President-elect Lee Myung-bak
opened 2008 with a pledge to make it an affluent year amid harmony. People knew
the new leader was a little flawed ethically as an elected official, somewhat
self-righteous and in favor of the haves rather than have-nots. Their only hope
was the former construction company CEO would somehow turn the sluggish economy
around. Now, Koreans are seeing one of the worst economies in recent memory and a
country split into shreds.
The Lee administration may want to blame the worldwide economic crisis for the
dismal national economy, but experts say the global turmoil is hiding the
numerous mistakes of the incumbent government, which might otherwise have been
more conspicuous. Lee's finance minister, who left a serious dent in foreign
reserves because of his exchange rate policy fiasco, is still boasting he could
``spend as much money as he wanted" this year.
Even leaders who start with strong ideology tend to become pragmatic in the face
of reality. Regrettably, the opposite is true with President Lee, who began with
pragmatism but is turning himself toward being an ideologue ??? an authoritarian
one at that ??? calling for bureaucrats to restore the state's ideological
legitimacy, and trying to take over public broadcasters. Lee, who encouraged
consumption to boost the economy as recently as a month ago, is even chiding
people for driving around in their own vehicles in these difficult economic
times.
Even more seriously, neither the Cabinet nor the governing Grand National Party
seems to have the slightest idea of putting a brake on the backpedaling President
and Cheong Wa Dae, gripped by what political watchers call ``groupthink.''
Otherwise, one can find it hard to understand why they should railroad 142 bills
and motions, the majority of which are not urgent, before this year passes, and
why some in the governing camp think sending anti-Pyongyang leaflets is better
than the smooth operation of the Gaeseong Industrial Complex for inter-Korean
relations in the long run.
Americans applauded when President-elect Barack Obama called for ``embracement
and harmony" instead of ideology. Koreans may not want that much, but just hope
the next four years will not go down in history as a period of reactionary
politics.
(END)