Who’s afraid of a little genetically engineered American corn?Chinese quarantine officers apparently. They’ve recently blocked at least six batches (more than 180,000 tons) of American corn from entering China, citing the presence of a genetically-modified strain of the grain that the Chinese government hasn’t (yet) approved for import. The impact has been notable: In recent days U.S. corn futures fell, in part out of fear of further Chinese enforcement action.So far there’s been little coverage

Viewpoints Dec. 23, 2013

Before Ukrainian President Viktor Yanukovych signed a deal to bail out our country’s economy this week, there was excitement among Western officials and analysts about the way some businessmen who have bankrolled the president’s rise to power appeared to be distancing themselves from him.Many Ukrainians weren’t fooled. The country’s so-called oligarchs still supported Yanukovych. And now they will be prime beneficiaries of the $15 billion of bail-out loans and lower natural gas prices that he se

Viewpoints Dec. 22, 2013

From the earliest days of our nation, Americans have been a generous people. In 2012 alone, according to Giving USA estimates, Americans donated $316 billion to charity.At no time is this generosity more evident than during the holiday season, when nearly 60 percent of all Americans make charitable contributions, ranging from loose change dropped into Salvation Army buckets to multi-million-dollar donations.Whether it’s a child who receives a $10 Christmas toy from Toys for Tots or a college stu

Viewpoints Dec. 22, 2013

In what has been dubbed the beginning of the end to quantitative easing, the U.S. Federal Reserve said Wednesday that it would reduce its monthly bond purchases by $10 billion to $75 billion starting in January.The impact of the Fed’s move on the Korean market was mild, with no volatility observed in the stock and foreign exchange markets Thursday. This was probably because the move had been expected for so long that much of its potential impact had already been reflected in the markets.Another

Viewpoints Dec. 20, 2013

Barring the unexpected, Hwang Chang-gyu, a former Samsung Electronics semiconductor veteran, will be installed as new chief executive officer of KT, the second largest mobile service operator in the nation, next month. Few would say he is unqualified, with his management skills having already been proven. Still, he will have so many obstacles to overcome during his three-year term in office.When it picked Hwang, now a university professor, as the next KT chairman on Monday, the CEO selection com

Editorial Dec. 20, 2013

A new report commissioned by the French Socialist government to make recommendations on how France can better integrate its residents of foreign origin has been described by former French Defense Minister Gerard Longuet as “organizing apartheid by inciting each community to affirm its difference,” according to the French newspaper Le Figaro.I figured that had to be gross exaggeration ― until I read through the hundreds of pages myself. As a native Canadian, I couldn’t help but notice that the Fr

Viewpoints Dec. 20, 2013

One year has passed since Park Geun-hye was elected president by earning 51.6 percent of the vote against the 48 percent of her opponent, Moon Jae-in. In her acceptance speech, she promised to do many things, including achieving national reconciliation and launching a new era of happiness for all South Koreans. Throughout 2013, however, she has had difficulties delivering on her campaign pledges. The government has submitted a host of reform bills to the National Assembly to implement her promis

Editorial Dec. 19, 2013

The Supreme Court has sent shockwaves through the business community by expanding the scope of “ordinary wage.”The top court has ruled that bonuses constitute ordinary wages if they have been paid “on a regular, uniform and fixed basis” ― regardless of the length of the payment intervals. This reverses the government’s rule that has been in place for the past 25 years. The rule regards bonuses as part of ordinary pay only when they are paid on a monthly basis. It excludes bonuses paid quarterly

Editorial Dec. 19, 2013

When Edward Snowden’s revelations of National Security Agency spying shocked the world, we were immediately struck by the huge risk to Silicon Valley industry if people no longer trusted the security of American technology.Six months later, the extent of the problem is being quantified: The Information Technology & Innovation Foundation estimates the hit to U.S. cloud computing providers at $35 billion over the next three years. Forrester analyst James Staten calculates tech losses at $180 billi

Viewpoints Dec. 19, 2013

In its cover story on the “Person of the Year,” Time magazine contrasts Pope Francis’s background with that of his two most recent predecessors: “John Paul II and Benedict XVI were professors of theology. Francis is a former janitor, nightclub bouncer, chemical technician and literature teacher.”The point can be extended further. Every pope from 1914 to 1978 had Vatican diplomatic or bureaucratic experience, and so our understanding of the papacy has been shaped by diplomats, bureaucrats and sch

Viewpoints Dec. 18, 2013