Opinion: Pacific Economic Union is an economic bloc that is needed for South Korea to survive
As the world is progressing towards the future, it seems like every single day is getting tougher to live. More countries are trying to diversify their economic portfolio and countries are finding ways to survive.
Mao Zedong has introduced capitalism to China and since then China has been growing rapidly.
During the rise of China, China has not given full access to other countries. (Notice how Facebook and other global websites are illegal and are not allowed to enter in China.) Not only that, but China also pushed its own citizens to purchase their home-made products. On the other hand, while China has not been allowing foreign companies to enter and pursue a fair competition, China kept a blind eye for its citizens to duplicate and copy real companies outside of China. Even worse, China would not let fair competition within its land but China is pushing hard to promote its businesses to the outside world. Countries that rely on export such as Germany and South Korea have been struggling and have steadily moved into an economic recession stage.
While the rise of China has been noticed by all the countries on the planet, I think it’s about time for South Korea to form an economic union that would challenge the Chinese counterpart. There are several reasons why I believe that South Korea should form an economic union. The answer is basically “for its own sake.” South Korea is situated between China, Russia, and Japan while having the US military based in the country. This is why South Korea is in an extremely hard position to govern the country. It is basically a blessing and a curse for South Korea.
While NAFTA was formed between the United States, Canada, and Mexico to counter the European Union, I think there should be a more competitive and powerful economic union led by the United States of America. Imagining what the economic union would be called, I would call it the ‘Pacific Economic Union’ for several reasons. (Don’t worry, not all these countries are sitting on the ring of fire.) The countries that would be joining the imaginary economic union would be the United States of America, Canada, Mexico, Australia, New Zealand, Japan, North Korea, and South Korea. If you look at the map, you will notice these countries are situated along the Pacific Ocean and the Atlantic Ocean.
Noticing there are India, Southeast Asia representing ASEAN, European Union, and other blocs, I think it will accelerate for world peace and what South Korea desperately needs right now is an economic union.
