President Moon Jae-in faces a host of economic problems. Growth is slowing. Job creation is being hobbled by hikes in the minimum wage. Youth unemployment remains high. Domestic consumer spending is weakening. Lagging productivity threatens to lead to a loss of global competitiveness, while squeezing profit margins. Exports are slipping due to soft overseas demand and the U.S.-China trade dispute. All these factors are undermining confidence in the economy and threatening to increase jobless numbers.
So what should Moon do? Perhaps he should consider introducing universal basic income (UBI), which provides a minimum monthly payment to every citizen, no […]
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