There are many hurdles ahead for North Korea as it tries to develop its slow-growing  economy and gain significant foreign investment. But while quiet openings should be encouraged, it is now imperative for Pyongyang to acknowledge the structural problems of the current system if it really wants to gain investment confidence.  That's according to Aidan Foster-Carter, speaking at  a Korea Economic Institute event this Thursday in Washington DC.

Launching a new paper on the prospects for North Korea’s economy, Aidan Foster Carter reminded audience members that there was once a time when North Korea’s economy had been well ahead of its southern neighbor.  Having been geographically well positioned to continue growing and become a competitive and productive north east Asian country, he explained that decades of mismanagement had reversed the country’s early fortune.