Time now for an in-depth look at the market news this afternoon.
And for that, I'm joined on the line by Dr. Kim Sei-wan, Professor of Economics at Ewha Womans University.
Professor Kim, good to have you back on.
The global financial markets are taking a hit from the concerns about inflation in the U.S. A lot of opinions out there, but many say we need to prepare for interest rates to rise. What do you make of the situation, and how do you think it'll affect people's investments in stocks and real estate?
In Korea, it seems right now that inflation is being driven by pressure from the supply side rather than demand. Groceries, for example. Tell us about that, and what might be done to keep it in check.
Stocks on Wall Street overnight had another big dip, another surge in bond yields dealing a blow to tech shares. Energy and financials, on the other hand with a decent gain. What's the story in the global markets?
A similar story in the Korean markets. All three main indices down, the KOSPI by around 1-and-a-half percent. Tell us about the local market.
Korea's exports are recovering. Last month, the daily value of those shipments rose to a nine-year high. And exports increasing in most of the main categories. Tell us a bit more about this recovery and if you think it'll go on.
And finally, Professor. I want to ask you about some preliminary data from the Bank of Korea showing that last year, Korea's per capita gross national income declined. It came to around 31,700 dollars per person. But interestingly, even before the pandemic, it declined both of the previous years too. What explains this decline in per capita GNI?