We Asked Korea’s Top Economist When The Economy Will Recover After COVID-19 | STAY CURIOUS #25

ASIAN BOSS interviewed Kim Young-ick, one of the most prominent economists in Korea to get his insight on how COVID-19 impacted the global economy and when we can expect it to recover.

With so many people being directly impacted by the economic downturn, we all need to stick together and support each other as members of the Asian Boss community. On our community app, MOGAO, you can interact with other intellectually-curious members from all over the world and be a part of a super positive & meaningful online community. Download our app here:
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#recession #COVID19 #IncomeInequality #Unemployment

100 comments

  1. With so many people being directly impacted by the economic downturn, we all need to stick together and support each other as members of the Asian Boss community. On our community app, MOGAO, you can interact with other intellectually-curious members from all over the world and be a part of a super positive & meaningful online community. Download our app here:
    App Store (iPhone): https://bit.ly/2wyascp
    Play Store (Android): https://bit.ly/2UxJycD

  2. There’s so many topic to be covered in Malaysia, but I’ve never seen them covering topics about Malaysia. A lot of Malaysia have voluntarily applied to become one of AsianBoss team, but up until today, to no avail. Most if the time they basically just covered story from Korea and Japan.

  3. Korea should build artificial reefs/salt water fish farms, underground tunnels to pump fresh air and serve as flood outlets, vast energy efficient greenhouses,etc and even invest in N Korea to keep their population and world economy ticking together with China and Japan. The great satan only wants war and bombing, we have to stop it.

  4. i’m a major in economy and currently doing an investigation about the economic climate after the pandemic is over so this really helped me and gave me a better insight instead of just news reports

  5. Love Asian Boss, they not only bring up social issues but also try to educate us on other technical areas. I know somethings abt the economy but expert’s explanations got me a quick and clear look. Where would we can get such open and thorough talks with experts like this?the media cant give us this bc of its formality. This section is extremely helpful for govs, businesses or ppl who might want to take st out of it. The Asian Boss is really stepping up their game that they can access ppl like this to give ppl information.

    On UBI I think there’s risk and burden to it. I think most would be neither more lazy nor more motivated to work, they would just work the same and add it to their spendings or savings. It would create a burden for govs, or otherwise the rich would get taxed more for this UBI? I think govs should consider only giving this to those who are in low situation and really need it to bring themselves or their families up

  6. The stimulus funds for Covid-19 business in the US are loans, it is not forgiven, as for US household funds, it is not tax free. Need to pay back taxes at end of the year. Most people lost their job makes more than what their job paid them. Why go back to work.

  7. Very insightful interview, thx Asian Boss and the professor.
    Although as a Chinese, I have to point out that the labor laws in China, while seems strict on surface, is not usually fully obliged, especially by big companies like Huawei since they have powerful connections with the government. So I would say overall China probably have one of the most lax labor laws in the world.

  8. Koreans conditional financial aid to businesses make so much more sense than just giving businesses money and assuming they will do the right thing and not layoff their staff.

  9. 14:37 That is exactly why, while we (of course) should not discriminate against housewives, we absolutely should NOT encourage traditional gender roles and pressure more women into quitting their jobs after getting married. It is bad for economy & for capitalism because adult women (who make up half of a country’s reserved labour force) CANNOT actively contribute to the economy when they don’t have a paid job.

    I know some people would say: “Then why don’t these married women have MORE CHILDREN instead of working? Their children can grow up to participate in the economy.”
    But that is NOT a feasible strategy, because half of those children would also be FEMALE and would grow up to become housewives, thereby cancelling out all the economic benefits brought by the male children.

    Let’s just face the facts. All unemployed people (e.g. children, elderly, housewives) are technically economic burdens. It’s not me trying to offend anyone. It’s just a neutral fact.

    Capitalism needs more working women. It needs to “exploit” both working women and men in order to keep the wage relatively low and to increase consumer power. That is not necessarily moral, but it is necessary for the current imperfect world. We live in the REAL WORLD and we need to recognise the reality.

    Those extreme conservatives who just want to “keep women in the kitchens” better start to advocate for SOCIALISM (or any other “ism” aside from capitalism) asap. Otherwise y’all are just a bunch of confused hypocrites. Stop telling women to quit their jobs in order to focus on family. It’s just stupid.

  10. Hi Asian Boss, could you guys make a video on the bill thats passing in California called ACA-5? Its a bill that’s going to repeal proposition 209. This means that universities in California can now use race and gender as admissions factors. I think that it’s an important discussion because university is such an important factor in Asian culture and this bill somewhat targets the asian community.

  11. I request Asian boss To also conduct interviews of general people in India ,about the suicide of star Sushant Singh Rajput . It has hurt every Indian . It’s something that needs to talked about.

  12. There are many economists that would disagree with this economist about the “dangers” of deficit spending. See Stephanie Kelton and her new book The Deficit Myth. Excellent reading!

  13. THANKS SO MUCH ASIANBOSS for interviewing people who make it easy for ordinary persons like me to understand what inflation, deflation is, and Prof Kim is quite articulate and explains the situation simply. Is it a coincidence his name is also Kim, like Dr. Kim and my other fave Prof. Kim. Anyway, more power, looking forward to your helpful interviews, we can do this👍💪oh and don’t think I didn’t notice your sophisticated new look Sir Stephen🤫

  14. As ever Asian Boss, you exceeded my expectations! A great interview! Kim Young-ick final quote will stick with me for ever: “Yesterday is history, tomorrow is a mystery, and today is a gift!Great stuff, indeed!

  15. Finally…unbiased, uncensored truth about current economic status and outlook so we know what to expect in the future. Very informative. Thank you.

  16. I studied economy, but even to this day I can’t understand how economists complain about “running out of money” and debt. Debt to what? Debt to their own reserve of money. Money they keep printing every day? Money is just numbers, papers. The only thing they need to do is keep circulating the money within the country. It doesn’t matter where the money goes… because it can’t go anywhere! Money doesn’t disappear.
    They’re comparing it to the Great Depression. But it is nothing like it. The resources are still there. There is food, shelter and hospitals for everyone, nothing has disappeared, it has only transformed. They just need to keep the people from panicking and inspiring them to find solutions and work within the new limits imposed by the epidemic. I’m not saying it’s easy. I’m saying that “running out of money” is not the issue they should be focusing on.

  17. 26:48 businesses in Korea Japan the US China will not use government bailout money to hire more, rather, the bailout money will be used for research and development in artificial intelligence so that robots can continue to work rather than having more people on the assembly line 😂. Less people on assembly line and more artificial robots and automation. Quantum computing will exacerbate this as well. You might have to tax the robots and supercomputers to pay for tax revenues to pay for vital infrastructure and healthcare

  18. Thank you asian boss for such insightful interviews. This is not only educational but also inspiring for youth to participate in such discussions. Please analyze measures taken by other asian countries.

  19. I don’t think it makes a lot of sense to wear a mask outside when no one is around but not wear inside when you are close to another person. Just saying.

  20. Stephen has incredible access to the elite minds of Korea. His interview with the KCDC doctor was helpful and now a prominent economist. Impressive! This is such a great channel.

  21. Thank you Asian Boss for this interesting video. I kinda understood bits of it (well, I think I did🤔) Its made me want to talk to an economist or someone similar to talk about it, share opinions & me, asking a lot more questions to become more of clearer on certain parts of this topic. This I wouldn’t be normally do. Most of the time, information would just go over the top of my head (Or I wouldn’t be able to compute any of the information) I can’t believe I actually want to learn this 🙂

  22. Love your shows and interviews especially your info on the CoVid-19 crisis. What kind of mask are you wearing in the intro of this video? And does it help prevent fogging of glasses? Thanks for your great work Bro.

  23. Stephen, that was an excellent guest choice. During his analyst days, Young-ick was known as one of the hardest working professionals in Yeoido – the Korean equivalent to the Wall Street in the US. It is refreshing to hear an expert who is so humble yet are so switched on. Keep up the good work!

  24. One of the best videos of the channel and across YouTube. The professor was able to address and explain complex economic’s topics in a simple and understandable way for the average person.
    simply amazing, thanks for this.
    A hit on the like button is definitely mandatory for all of us. Well deserved.

  25. Universal Basic Income has now been approved in Spain and everyone looks hopeful, let’s see how it works. Btw his last words in this interview were amazing. As always, great work Asian Boss!

  26. Great interview. One comment though; it would’ve been far more convenient to have it in English. Both the host and the guest are capable English speakers. It was quite a hassle to pause and rewind to read every word in the subtitles. Again, great interview. Thanks

  27. Another great 👍 information ℹ️ video it’s better than local and cable news in the 🇺🇸 don’t even hardly watch it except for the weather. Hope you do a interview with people in Vietnam 🇻🇳 about what’s going on including the 🇺🇸 . Keep up the great work stay safe you and your co workers.

  28. this is the content that I subscribed for!!

    it’s the most golden content i’ve ever seen; explained by such a soft talented expert which instead of rushing their speeches and bombards us with unknown business terms he explained it slowly and perfectly for us to understand!!

    정말 대단해요! Asian Boss 짱!!

  29. So long as our Infrastructure is undamaged we can survive almost anything economically, for the foundation of a good economy is how fast a product can reach point B from point A.

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