, Columnist
There's No Escaping the Slump Even for Virus Stars
South Korea has gained scant economic reward for its successful containment effort. Other trade-dependent nations should take note.
In coronavirus-era economics, you don't get a medal for having a good war.
Photographer: SeongJoon Cho/Bloomberg
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You can have a good war and still be seriously wounded.
South Korea has been relatively successful at controlling Covid-19 infections, and made good progress in reopening its economy. But it's still suffering a serious downdraft, with consumers pulling back at home and demand collapsing in key trading partners. Some kind of recession for this trade-dependent economy looks assured; only the scale is in question.