[Macro Today] Let's hope and rise

The Korea Times

The Korea Times

Finance

Sun, October 1, 2023 | 17:22

Economy

Macro TodayLet's hope and rise

Posted : 2019-01-06 08:57

Updated : 2019-01-06 17:14

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By Park Hyong-ki

The Korean economy had a tough 2018.

And unfortunately, it's going to get tougher for a lot of people especially those in the middle and lower classes.

A wide range of problems facing this society and market have been left unresolved ― youth unemployment, elderly poverty, declining productivity, income inequality, low birthrate, rigid labor, household debt, sluggish investment and consumption.

The list goes on.

Then, there is the U.S.-China trade war, rising interest rates and an outlook for a global slowdown in 2019.

The market bade adieu to 2018 with social conflict brewing between the haves and have-nots, cab drivers and carpool app developers, and wage earners and employers.

These issues will persist and hinder growth in 2019.

The standard of living has improved amid a great technological leap, compared to a decade ago.

But sadly, people seemed to be less happy than they were before the tech hype ignited by smartphones.

Is all hope for revival and change lost?

Should a lot of people say yes, there is no hope for this economy that has been conquered and will continually be run by the privileged few.

It may be cliche to say this, but they shouldn't give up hoping for and building a better future.

As history has always shown, the minority has started the change, no matter how painful the process and frustrating the progress have been.

They have not hidden their vulnerabilities, but rather revealed them and asked for help.

They may have been weak but were humble, and always tried to search for the silver lining in times of trouble and difficulty.

This country is one of many perfect examples. It has gone through a lot over the years, fighting for independence from external oppression, suffering division with North Korea, and trying to rebuild from the ashes of war and economic crises.

Let's not be arrogant and say Koreans achieved all their glories and created an economic miracle all by themselves.

Sure, they had put a lot of energy and effort into rebuilding this once torn nation. But they also had help from development banks, missionaries and other governments and nonprofit organizations.

Economic and social reconstruction isn't a matter of showing one's pride and strength.

It is a matter of serving the greater good by arousing hope and showing commitment to transform through collectiveness.

This is hard because there will always be doubters, naysayers and those who don't want to lose their power.

The economy may be falling, but it can rise again.

Let this poem "Still I Rise" by Maya Angelou help regain hope and faith in the face of uncertainty and hardship in 2019.

You may write me down in history
With your bitter, twisted lies,
You may trod me in the very dirt
But still, like dust, I'll rise.

Does my sassiness upset you?
Why are you beset with gloom?
'Cause I walk like I've got oil wells
Pumping in my living room.

Just like moons and like suns,
With the certainty of tides,
Just like hopes springing high,
Still I'll rise.

Did you want to see me broken?
Bowed head and lowered eyes?
Shoulders falling down like teardrops,
Weakened by my soulful cries?

Does my haughtiness offend you?
Don't you take it awful hard
'Cause I laugh like I've got gold mines
Diggin' in my own backyard.

You may shoot me with your words,
You may cut me with your eyes,
You may kill me with your hatefulness,
But still, like air, I'll rise.

Does my sexiness upset you?
Does it come as a surprise
That I dance like I've got diamonds
At the meeting of my thighs?

Out of the huts of history's shame
I rise
Up from a past that's rooted in pain
I rise
I'm a black ocean, leaping and wide,
Welling and swelling I bear in the tide.

Leaving behind nights of terror and fear
I rise
Into a daybreak that's wondrously clear
I rise
Bringing the gifts that my ancestors gave,
I am the dream and the hope of the slave.
I rise
I rise
I rise.

hyongki@koreatimes.co.kr