Lee and his public pledges-747

Lee’s most recent promise to the public is the 747 policy. 747 means 7% economy growth, and after 10 years annual income growth will rise to  $40,000  and economy to be ranked above 7th in the world economy rankings. Some say there are a lot of problem with it. According to few research organizations the potential economic growth of Korea was 4~5% and they say that if the practical growth over runs the potential growth,  it will lead to inflation. They say say that Lee’s promise about 7% economic growth is a play to fool the citizens. There are a lot of doubts about the $40,000 annual income as well. The thing is that Koreans’ annual income grew from $10,000(2000) to $20,000(2007) and the growth has only enlarge the gap between the rich and the poor. The opposite say that Lee’s economic growth will only benefit the poor and disadvantage the poor. Lee’s promise that Korea will ranking is also becoming a problem as well. Researchers say that even if we are be able to pull off the 7% economy growth in ten years we won’t be able to get into the top 7 because in ten years we than will reach the economy of Italy right now (in 2007), so unless we pull off to grow more than 7% a year, it is impossible. It is for sure that their is no unanymity in Lee’s actions. He had it coming when he campained on such a extreme(in some aspects) pledges. I personally advocate Lee because he is able to pull off things he promised. I’m sure Korea will rank the 7th in 10 years….I hope….lol