Market complacency over North Korea could be dangerous
A guest opinion piece by North Korea expert and Barclays Capital's economist, Dominique Dwor-FrTcaut.
North KoreaÆs alleged nuclear test registered more strongly on seismographs than on Asian markets. The South Korean equity market softened, the won weakened some and KoreaÆs credit default swaps spreads, a measure of credit risk, widened. But just days after the nuclear test the markets had retraced most of their losses. And South Korean chaebols are not expecting the test to have a negative impact on their bottom lines. Rather, they are looking forward to stronger export competitiveness thanks to...
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