Former Prime Minister Han Deok-Soo Lectures at Yonsei Former Prime Minister Han Deok-Soo lectured at the final leadership seminar of the year on December 11. “I am glad to meet with the future leaders of the world.” Han, who seems more like a gentle scholar than a high-ranking administrator, gave a lecture on “The Global Economic Crisis and Our Strategies.” “The economic crisis is spreading worldwide, affecting countries everywhere,” Han opened his lecture by discussing the current subprime crisis. “The economic deficit of the U.S. and economic difficulties in China and India started the global imbalance.” Han predicted various difficulties in the global market due to the current global economic crisis, which may soon lead to the strengthening of financial regulations by individual governments and distrust in the market. He also gave some projections about economic growth rates in the near future, with the world average at 2.2 percent, developed countries at 0.3 percent, and China at 8.5 percent, India at 6.3 percent. In order to overcome this crisis, Han stressed, first of all, the importance of international cooperation, such as exchange rates, coordinating financial policies, increasing fluidity between central banks, and the active role of the IMF. Secondly, he recommended institutionalizing international cooperation, such as strengthening of the cooperation among G20 countries and expanding the FSF. Third, Han said strategies ought to be devised to prevent disadvantages for new participants in the global market. Additionally, Han provided a diagnosis of the situation in Korea. “The foundation of the Korean economy has been greatly improved. We must take steps to participate actively in international efforts and strengthen policies to prevent economic depression and establish a stable domestic market.”