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How to evaluate the upside and defensibility of marketplace businesses[A. Hagiu-HIC]

Marketplaces dominate the modern business landscape by leveraging powerful network effects-think Airbnb, Alibaba, Amazon, Coupang, Mercado Libre, Naver Shopping, Pinduoduo, YouTube, etc. As the number of users on one side of the marketplace grows-buyers, for example-the appeal to the other side-sellers-expands exponentially. This reinforcing cycle makes marketplaces attractive to entrepreneurs and investors alike: everyone wants to build or invest in the next Airbnb, Uber or Twitch. However, bui
2024.12.18 11:07
The Dispensable Nation? [Robert Dohner - HIC]

“We are America; we are the indispensable nation.” (Madeline Albright, 1998) In the end, despite all the polls and commentary, it was not even close. By a decisive, though not overwhelming vote, Donald Trump won a second presidential term in the U.S. election on November 5. There has been voluminous commentary in the weeks since, laying out all possible reasons for the defeat of Kamala Harris and the Democrats. But the most likely explanation is that reaction to the sharp increase in prices afte
2024.12.16 11:35
Greenhouse Gas Reduction as a Key to National Competitiveness in the Era of Digitization[Sayuri Shirai-HIC]

Amid global average temperatures reaching record highs and remaining at unprecedented levels, the 29th Conference of the Parties (COP 29) was held this November in Baku, Azerbaijan. The conference featured extensive discussions on measures to curb the progression of global warming and strategies to adapt to its unexpectedly rapid warming pace. Tensions are mounting between developed nations, which industrialized early by consuming fossil fuels and have now become high-income countries, and devel
2024.12.12 11:45
Trump’s approach to China, as well as China’s response will be crucial for South Korea [Alicia Garcia-Herrero - HIC]

In China, Donald Trump’s victory in the United States presidential election has been met with official indifference but with deep concerns, in reality, given Trump’s well-known unpredictability. In reality, a second Trump administration does not have to be worse for China than the Biden administration. It will depend on whether Trump finally opts for a “rapprochement” with China or continues to push for separation from China. When Biden came to power, Chinese leaders were hoping that China-US re
2024.12.09 11:10
The Trump Shock and Korea[Barry Eichengreen-HIC]

Donald Trump’s decisive victory in last month’s presidential election came as a shock tomany South Koreans. It certainly came as a shock to many Californians, who had voted overwhelmingly for Kamala Harris. Trump’s “America First” policies created serious challenges for Korean policy during the president-elect’s first term. Moreover, that was Trump restrained by moderate advisors and a divided Congress. This time we will have Trump without guard rails. Trump has no reelection prospects to worry
2024.12.06 11:12
What Ails America – and How to Fix It [Jeffrey D. Sachs - HIC ]

America is a country of undoubted vast strengths – technological, economic, and cultural – yet its government is profoundly failing its own citizens and the world. Trump’s victory is easy to understand. It was a vote against the status quo. Whether Trump will fix -- or even attempt to fix -- what really ails America remains to be seen. The rejection of the status quo by the American electorate is overwhelming. An NBC national news poll in September 2024 found that 65% of Americans said the count
2024.12.03 11:16
India and South Korea Economic Cooperation: Past and Present [Narendra Jadhav - HIC]

India and South Korea stand out today as the two most important powerhouses of economic growth in South and East Asia. Rabindranath Tagore – the first Indian Nobel laureate in his poem written in 1929 had called Korea as a ‘Lamp of the East’, waiting to be lighted once again. Today, the lamp shines brightly, symbolizing Korea’s remarkable ascent. South Korea today is often seen as a hallmark of resilience and innovation. On the other hand, India is the world’s largest democracy and the fastest g
2024.11.28 15:47
The Coming Battle over Trump Tech Policy [Frank Pasquale -HIC]

Over the past three years, one of the U.S.’s top tech regulators has been Federal Trade Commission (FTC) Chair Lina Khan. Since publishing her remarkable Yale Law Journal article “Amazon’s Antitrust Paradox” in 2017, Khan has been a leading voice fighting concentrated corporate power and protecting consumers in the U.S. Her FTC sued Amazon, and other big tech companies, for anti-competitive practices. It has also vastly improved its privacy enforcement efforts, and has comprehensive data protect
2024.11.20 00:00
What should the Ishiba government’s economic policy be under political turmoil? [SHIN-ICHI FUKUDA - HIC]

On October 27, Japan‘s Lower House elections were held and the ruling Liberal Democratic Party (LDP) lost a large number of seats. Even with the coalition with New Komeito, Mr. Ishiba, who became the new Prime Minister on October 1, failed to achieve a majority. This was the first time in 15 years that the LDP had lost its majority in the Lower House. Japan will inevitably experience political instability in the near future. The primary reason for the LDP’s failure was the slush fund
2024.11.15 11:17
Containing household debt requires more ambitious housing policies [Christophe André - HIC]

As inflation decelerates, central banks around the world have started cutting interest rates. The Bank of Korea lowered its policy rate by 25 basis points to 3.25% on October 11 th . While lower interest rates will support the economy, interest rate cuts may fuel housing price increases and lift household debt further. The Bank of Korea has repeatedly mentioned concerns over rising household debt as a reason for caution in easing monetary policy. While household debt has featured more prominentl
2024.11.08 11:11