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Ben Chu

Ben Chu has been a leader writer at The Independent since 2004. Before that he worked at the paper on the comment desk, letters department and the personal finance pages. He studied history at Jesus College, Oxford between 1997 and 2000.

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A united Korea? Sorry - too expensive

Posted by Ben Chu
  • Thursday, 28 May 2009 at 11:21 am
I think the Lex column in the Financial Times might want to invest in a functioning moral compass. Commenting on North Korea, Lex seems to sees the primary danger not in the lunatic regime's nuclear sabre-rattling, but in the prospect of political unification of the Korean peninsula:


 
"On some estimates, reunification could cost Seoul $2,000bn-3,000bn, up to three times South Korea’s annual output. Investors’ current composure implies a belief this possibility is still remote – and South Koreans will surely hope, for now, they are right."


No doubt the bill for unification will be substantial. But I think, on balance, the South Korean people would regard this as a price worth paying for the liberation of their fellow countrymen (not to mention family members) from the Stalinist prison in the north. They might also welcome an end to the threat of nuclear annihilation that has been hanging over them. Or should West Germans have prayed for the continuation of the Cold War on the grounds that German re-unification might spook the Frankfurt stock exchange?

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