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Briefing

North Korea: Economic Profile

Appears in: Asia/Pacific, Geostrategy, Macroeconomy, Northeast Asia, Defense Policy and Terrorism, Growth Outlook and Business Cycle, Nuclear Proliferation

Critical Issues

Background:

North Korea (NK)'s GNP remains below its 1989 level due to a severe contraction in the 1990s as a result of the fall of the Soviet Union, flooding, famine and economic mismanagement. Increased trade and aid from China and South Korea contributed to growth in the first half of this decade, but the economy began contracting in 2006. Further financial sanctions as a result of the May 2009 nuclear test may sharpen the contraction.

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Associated Readings

News Wall Street Journal Evan Ramstad Dec 01, 2009 News Washington Post Blaine Harden Nov 03, 2009 In North Korea, the military now issues economic orders News Financial Times Christian Oliver Oct 06, 2009 China eyes N Korea’s mineral wealth News Yale Global Bertil Lintner Jun 9, 2009 Tunnels, Guns and Kimchi: North Korea’s Quest for Dollars – Part I Analysis Institute for Far Eastern Studies Jun 01, 2009 Assessment of the North Korean Economy for 2008 Analysis Bank of Korea June 18, 2008 Gross Domestic Product of North Korea in 2007 Analysis United States Institute of Peace John S. Park May 2009 North Korea, Inc.: Gaining Insights into North Korean Regime Stability from Recent Commercial Activities News Yonhap News Agency May 26, 2009 N. Korea's 2008 trade hits record US$3.8 bln: report News Associated Press Kelly Olsen May 28, 2009 Economist Roubini says North Korea should follow economic models of China, Vietnam News Yonhap News Agency March 7, 2008 N. Korean economy overestimated says expert Analysis Congressional Research Service Dick K. Nanto and Emma Chanlett-Avery Jun 24, 2007 The North Korean Economy: Overview and Policy Analysis News Chosun Ilbo May 26, 2009 Kaesong Firms Consider Withdrawal News Institute for Far Eastern Studies Apr 4, 2009 DPRK market restrictions vs market realities News Bloomberg Hideko Takayama and Bradley K. Martin Apr 14, 2008 Kim Jong Il Cracks Down on Markets, Seeing Threat to Control Research Peterson Institute for International Economics Marcus Noland and Stephan Haggard August 2007 North Korea’s External Economic Relations Research University of Washington Judith Thornton February 2007 Benchmarking North Korean Economic Policies; The Lessons from Russia and China Blogs North Korean Economy Watch May 24, 2007 Experts Differ Over N.Korea’s Economic Openness Analysis International Relations and Security Network Axel Berkofsky May 08, 2007 North Korean economy: Reform, collapse

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