Choongsoo warns of lurching global crisis

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Choongsoo Kim, the governor of the Bank of Korea, on November 30 said unless changes to the current international financial system are made, global imbalances are highly likely to persist, running the risk of a global crisis.

At the 19th Bank of Korea Central Banking Seminar in Seoul, Choongsoo said that while there was a broad consensus that persistent global imbalances will develop into a global crisis, opinions on its causes differ.

"On the one hand, long-lasting monetary policy

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