South Korea’s 1997 IMF crisis offers a warning as Milwaukee struggles with the shock of Trump’s tariffs
Milwaukee may feel far removed from the upheavals that once swept through East Asia, but the stress signals emerging in the local economy today echo patterns that were visible in South Korea months before its 1997 financial collapse. Long before headlines labeled it a crisis, ordinary people in Seoul sensed that something was shifting beneath the surface. The warning signs were subtle but persistent, and they formed a pattern that only became clear in hindsight. Those early indicators offer a framework for understanding the consequences of federal tariff policies now pressing against Milwaukee’s industrial base, agricultural sector, and consumer...
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