Experts in Seoul assess consequences of US-China rivalry — Korea Herald
At a seminar of the China Capital Market Society in Seoul, South Korea, experts discussed China’s growing global role, the technological rivalry between Beijing and Washington, and its consequences for South Korea. According to The Korea Herald, the event at the Korea Financial Investment Association was dedicated to the society’s 18th anniversary and became its 200th seminar.
China’s ambitions and technological competition
Kim Heung-kyu, president of the Korea National Diplomatic Academy, said that under Xi Jinping’s rule, China has changed its perception of its role, moving beyond its traditional self-image as a developing country and a major East Asian power. In his assessment, Beijing increasingly sees itself as a global force capable of extending its influence beyond the region.
Kim Heung-kyu linked China’s long-term strategy to modernization goals and the desire to strengthen its economic, military and international influence. He also noted that China is seeking to expand its role through initiatives in global development, civilization, security and governance.
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In the expert’s view, competition between the United States and China is intensifying in advanced technologies and strategic industries. According to Kim, the United States holds strong positions in artificial intelligence, semiconductors and biotechnology, while China is competitive in rare-earth materials, batteries and renewable energy.
Forecasts for the economy and South Korea
Kim Kyung-hwan, head of China and emerging markets strategy at Hana Securities, forecasts a gradual recovery of the Chinese economy in the second half of the year due to stimulus measures. According to him, exports of artificial intelligence-related products are growing, while the share of semiconductor and computing goods in China’s total exports may exceed 15% for the first time.
Kim Heung-kyu also expects Washington to increase pressure on Seoul over the next two and a half years. Lee Ji-hoon, an analyst at the Center for International Finance, noted that South Korea could use US efforts to contain China as an opportunity, but to do so it is important for the country to maintain competitiveness in semiconductor production.
