When it comes to discussing North Korea, the image of a “land of starvation” may still dominate perceptions of the country, but more and more people are coming to understand, perhaps somewhat reluctantly, that this characterization is incorrect.
Recently, the Bank of Korea, South Korea’s central bank, changed its long-held position on the North Korean economic growth. For years, the Bank of Korea has published improbably low estimates of North Korea’s annual GDP growth, usually claiming it to be between 1% and 1.3% – well below the estimates of virtually all other observers.
This year, though
When it comes to discussing North Korea, the image of a “land of starvation” may still dominate perceptions of the country, but more and more people are coming to understand, perhaps somewhat reluctantly, that this characterization is incorrect.
Recently, the Bank of Korea, South Korea’s central bank, changed its long-held position on the North Korean economic growth. For years, the Bank of Korea has published improbably low estimates of North Korea’s annual GDP growth, usually claiming it to be between 1% and 1.3% - well below the estimates of virtually all other observers.
Andrei Lankov is a Director at NK News and writes exclusively for the site as one of the world's leading authorities on North Korea. A graduate of Leningrad State University, he attended Pyongyang's Kim Il Sung University from 1984-5 - an experience you can read about here. In addition to his writing, he is also a Professor at Kookmin University.