| View previous topic :: View next topic |
| Author |
Message |
charlieDD
Joined: 16 Jun 2006
Location: Seoul, Korea
|
|
| Back to top |
|
 |
cangel
Joined: 19 Jun 2003
Location: Jeonju, S. Korea
|
 Posted: Sun Aug 05, 2007 8:05 pm Post subject: |
 |
|
| We should limit the transfer of monies earned stateside to $10,000 and deny them ATM privileges for 3 months. That's just for starters... |
|
| Back to top |
|
|
thepeel
Joined: 08 Aug 2004
|
| Posted: Sun Aug 05, 2007 8:19 pm Post subject: |
|
|
| I demand the Korean government get back my bike that was stolen yesterday. If not, then I can't say for sure, but anti-Korean sentiment might increase. |
|
| Back to top |
|
|
Hollywoodaction
Joined: 02 Jul 2004
|
| Posted: Mon Aug 06, 2007 5:55 am Post subject: |
|
|
| The irony. American companies are painted as evil when they buy Korean companies, but the Korean media lays on the nationalism a bit thick when Korean companies buy American ones (forget about the fact that many of the major shareholders of Korean companies are foreign or that European conglomerates own the American ones). |
|
| Back to top |
|
|
charlieDD
Joined: 16 Jun 2006
Location: Seoul, Korea
|
| Posted: Mon Aug 06, 2007 4:34 pm Post subject: |
|
|
| Hollywoodaction wrote: |
| The irony. American companies are painted as evil when they buy Korean companies, but the Korean media lays on the nationalism a bit thick when Korean companies buy American ones (forget about the fact that many of the major shareholders of Korean companies are foreign or that European conglomerates own the American ones). |
It's "same same" when a white guy gets a Korean girl . . vs. . . a Korean guy gets a white girl.
Yeah, Korea really shows it relative smallness when a business deal becomes a point of national pride.
Don't they ever stop to think why the owners sold the company? Like, maybe the owners of Bobcat saw a better opportunity elsewhere? It's strictly a business decision. For many Koreans, however, it's tantamount to a conquest of sorts, a notion and emotion the media in Korea are only too eager to promote.
And don't they ever stop to wonder why someone else didn't buy the company? I'm sure there were others who took a look at Bobcat and, after careful analysis, offered less than Doosan did.
These same emotions can drive the Korean side to pay too much for an American or European asset just so they can have the bragging rights back home and abroad, an asset itself to a company trying to establish itself in the world. The Bloomberg Report says Doosan paid 1.9 x annual sales for Bobcat; at the same time Caterpillar, the largest maker of heavy equipment and very solid world leader, is valued at 1.2 X annual sales.
It'll be a couple of years before it is proved to be a good investment for Doosan, or a bad one. As for Ingersoll-Rand, they seem quite happy with the $4.9 billion they've got in hand from the exchange, which they'll now use to expand their core product lines. |
|
| Back to top |
|
|
mindmetoo
Joined: 02 Feb 2004
|
| Posted: Mon Aug 06, 2007 4:45 pm Post subject: |
|
|
To be fair, America has its own moments of takeover paranoia. In the '70s it was the Arabs. In the '80s and '90s it was the Japanese.
Canadians sure dump bricks when Americans buy Canadian businesses. |
|
| Back to top |
|
|
dogshed
Joined: 28 Apr 2006
|
| Posted: Mon Aug 06, 2007 6:11 pm Post subject: |
|
|
| There's the plan. You start an American company with a nationalistic name like American Cowboy Jeans Company or American Hollywood Florida Industries and then act all broken hearted when you have to sell it to the Koreans for a big fat profit. |
|
| Back to top |
|
|
thepeel
Joined: 08 Aug 2004
|
| Posted: Mon Aug 06, 2007 6:36 pm Post subject: |
|
|
| mindmetoo wrote: |
To be fair, America has its own moments of takeover paranoia. In the '70s it was the Arabs. In the '80s and '90s it was the Japanese.
Canadians sure dump bricks when Americans buy Canadian businesses. |
No we don't. What are you talking about? There was a firesale of Canadian firms in the past year and the only people who made a stink write for the Toronto Star. Economic nationalism is dead as dead in Canada. |
|
| Back to top |
|
|
just another day
Joined: 12 Jul 2007
Location: Living with the Alaskan Inuits!!
|
| Posted: Mon Aug 06, 2007 6:57 pm Post subject: |
|
|
| mindmetoo wrote: |
To be fair, America has its own moments of takeover paranoia. In the '70s it was the Arabs. In the '80s and '90s it was the Japanese.
Canadians sure dump bricks when Americans buy Canadian businesses. |
it goes on today.
dubai was blocked from buying a port in the south, and china was blocked from buying a telecom company in the US. that was a year and half ago.
korea actually invests more in the US than the US invests in Korea.
That means a lot of jobs in America depend on Korea's money.
That doesn't include english teachers. |
|
| Back to top |
|
|
Wangja
Joined: 17 May 2004
Location: Seoul, Yongsan
|
| Posted: Mon Aug 06, 2007 6:59 pm Post subject: |
|
|
| ..... and God forbid that British Airways should want to buy an Anerican airline, or an American company wanted to buy a French power company. |
|
| Back to top |
|
|
thepeel
Joined: 08 Aug 2004
|
| Posted: Mon Aug 06, 2007 7:03 pm Post subject: |
|
|
There is a difference here. The Dubai ports issue was silly, but the selling of a major strategic facility is quite a bit different to the immature outcry the Koreans had when Korea was about to "lose" KT&G to Carl Ichan.
And also, selling telecoms to the Communist Party of China is different than one private firm buying another.
You have to understand that for Koreans every dollar that leaves Korea for foreign lands is an assault on their racial well-being. Every, single, dollar. This is why they don't let you use international ATM's.
So, yes. SOMETIMES the USA does get mercantilist about foreign sales. Korea ALWAYS does.
Proportion, eh? |
|
| Back to top |
|
|
just another day
Joined: 12 Jul 2007
Location: Living with the Alaskan Inuits!!
|
| Posted: Mon Aug 06, 2007 7:05 pm Post subject: |
|
|
| BJWD wrote: |
There is a difference here. The Dubai ports issue was silly, but the selling of a major strategic facility is quite a bit different to the immature outcry the Koreans had when Korea was about to "lose" KT&G to Carl Ichan.
And also, selling telecoms to the Communist Party of China is different than one private firm buying another.
You have to understand that for Koreans every dollar that leaves Korea for foreign lands is an assault on their racial well-being. Every, single, dollar. This is why they don't let you use international ATM's.
So, yes. SOMETIMES the USA does get mercantilist about foreign sales. Korea ALWAYS does.
Proportion, eh? |
uh... I guess you never studied the effects of capitalism/modern imperialism on smaller nations.
korea is still a much smaller market than america. in general, most countries nationalize their important assets to some degree, like America nationalized their assets when they were under British colonialism when America was much smaller economically than Britain. |
|
| Back to top |
|
|
thepeel
Joined: 08 Aug 2004
|
| Posted: Mon Aug 06, 2007 7:10 pm Post subject: |
|
|
| just another day wrote: |
korea actually invests more in the US than the US invests in Korea.
|
You are going to have to provide some data for this. Keep in mind that FDI into Korea is at a 12 year low AND that foreign firms are legally and otherwise structurally/institutionally prohibited from investing freely in Korea.
But even IF you are right, you can compare one economy (the USA) that is near fully open to FDI and another which is near fully closed and then wear as a badge of honour that the logical outcome is the outcome.
EVEN SO, you have to provide data.
Data please. |
|
| Back to top |
|
|
just another day
Joined: 12 Jul 2007
Location: Living with the Alaskan Inuits!!
|
| Posted: Mon Aug 06, 2007 7:11 pm Post subject: |
|
|
| ^ I don't really care if you believe me or not. This place doesn't exactly care about facts. Maybe you do, but Im tired now. |
|
| Back to top |
|
|
thepeel
Joined: 08 Aug 2004
|
| Posted: Mon Aug 06, 2007 7:19 pm Post subject: |
|
|
| just another day wrote: |
| BJWD wrote: |
There is a difference here. The Dubai ports issue was silly, but the selling of a major strategic facility is quite a bit different to the immature outcry the Koreans had when Korea was about to "lose" KT&G to Carl Ichan.
And also, selling telecoms to the Communist Party of China is different than one private firm buying another.
You have to understand that for Koreans every dollar that leaves Korea for foreign lands is an assault on their racial well-being. Every, single, dollar. This is why they don't let you use international ATM's.
So, yes. SOMETIMES the USA does get mercantilist about foreign sales. Korea ALWAYS does.
Proportion, eh? |
uh... I guess you never studied the effects of capitalism/modern imperialism on smaller nations.
korea is still a much smaller market than america. in general, most countries nationalize their important assets to some degree, like America nationalized their assets when they were under British colonialism when America was much smaller economically than Britain. |
You are very obviously Korean. that is clear.
Your reply is childish. Here is the logic:
1) Korea is smaller
2) in general, most countries nationalize their important assets (KT&G is IMPORTANT?) (When did we discuss NATIONALIZE?)
ERGO
3) Korea should be able to buy American firms while American firms not buy Korean ones.
Imperialism? Get real Korean. You wouldn't have any economy to speak of if the USA hadn't extended to you preferential trade policies after the war. We permitted you to sell us your garbage cars while allowing you to not import ours. It was a trade policy design to help you, you know, build plumbing and such. It worked. You're welcome. We made you rich. The Korean narrative of hard working people picking themselves up by their bootstraps is nonsense. America made you rich by allowing you to export to her market. Koreans had little to do with the course of their own development. The next time you want to discuss imperialism, you might want to check your nationalist bullsh.it history at the door.
Ungrateful Koreans.
Now that you are a developed economy, it is time to Grow the *beep* up and play by the rules that big boys use.
There is fully zero economic logic for your ideas. This is just proud-beggar Korean economic nationalism at work. The culture of victim hood manifested in economic policy. |
|
| Back to top |
|
|
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
