Currency Reform in North Korea

By · April 13, 2010 · No comments
Economic Publications · Tagged: ,

Currency “Reform” in North Korea
by James M. Lister (jml@keia.org)
“It’s the economy, stupid!”
(attributed to James Carville, 1992 presidential campaign)
Free elections are not part of North Korea’s political fabric, but Kim Jong-Il and his advisors are undoubtedly aware that the regime’s legitimacy will be challenged if it fails to meet its promise of achieving a strong and prosperous nation by 2012, particularly if it faces a leadership transition. The November 30 announcement of currency reform, entailing redenomination of the North Korean won such
that 100 old won = 1 new won, appears to be a gamble that it can achieve that objective in an ideologically acceptable manner. It is a huge bet.

http://www.keia.org/Publications/Insight/2010/10January.pdf

About the author

←
→
North Korea NewsCyber-Security// Defector Stories// Economic// Foreign Relations// Headlines// Human Security// Inter-Korean / Reunification// Internal// Korean// Leadership// Military Affairs// Misc.// Must Read// NK Media Watch// Opinion// Video// Film// WMD//
NEXT STORIES IN THIS CATEGORY

© NKNews.org 2010/2011 - Contact us at news AT nknews DOT org
This site contains copyrighted material, the use of which has not always been specifically authorized by the copyright owner. NK NEWS is making short excerpts of this material available in its efforts to advance scholarly understanding of North Korea. NK NEWS believes this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit, and only to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner. To file a copyright infringement notification with NK News, please visit the DCMA Copyright Infringement Notification Page.