Korea-United States Cooperation in the New World Order
This volume results from an annual conference of South Korean and American government officials, former officials, private-sector leaders, and academics under the auspices of the Institute for International Economics in Washington and the Institute for Global Economics in Seoul. It contains essays on the security relationship between the United States and South Korea, the bilateral economic relationship, and broader multilateral cooperation. Two prominent Americans, Daniel K. Tarullo, assistant secretary of state for economic and business affairs, and Rep. Doug Bereuter (R-Nebr.), chairman of the House Subcommittee on Asia and the Pacific, used the conference to highlight the importance of greater South Korean economic liberalization for the future of the bilateral relationship. Tarullo argues that the most important determinant of the economic relationship would be whether South Korea resolves its "ambivalence" toward economic liberalization and more thorough integration into the world economy.
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Pacific powers would like Korea to reunify slowly, but the North is soon likely to implode, its economy deteriorating as its weapons of mass destruction accumulate. Rapid reunification would spur economic growth, as in Germany, and reduce regional tensions. South Korea's liberalization of its own economy and strengthening of its civic institutions will prepare it to assist the North. China and Russia may not go along, but Western governments should stop coddling Pyongyang. America should underwrite a united Korea's security, and Japan its finances.
After more than 50 years of dominating Northeast Asian diplomacy, Washington must now accommodate the fallout from the historic rapprochement between North and South Korea. As regional leaders take the reins of diplomacy, they face an uncertain future and lack the institutions that could guide the transition. The next U.S. administration can help, but not until it rethinks its own regional policies.
After the historic summit between Pyongyang and Seoul last June, the Koreas could be on their way to eventual reunification. To ensure such progress, Washington should consider making military and economic concessions -- including the possible withdrawal of U.S. forces -- to formally end the Korean War.
