Peter Ward is a senior researcher at Kookmin University, a writer and researcher focusing on the North Korean economy, and holds a Ph.D. from the University of Vienna.
Officials expect just 1% revenue growth this year, betraying few hopes for improvements in pandemic economic situation
As Beijing turns less capitalist and market-friendly, it grows more unlikely the DPRK will embrace true economic reforms
Armed forces and munitions producers compete for resources but also have a shared interest in blocking demilitarization
Neither the people nor the central government are incentivized to manage forests and oceans sustainably in the short run
DPRK entrepreneurs are dependent on and captive to state actors, giving them little incentive to challenge the regime
Informal economic activity provides key products but has limited growth potential, while even reform is not a cure-all
Reduced consumer demand and increased risk aversion likely to impact DPRK sectors ranging from coal exports to tourism
In latest speech, North Korean leader doubles down on decades-old proposals that have failed to fix incentive problems
A range of factors constrain the North Korean leader in practice, despite his supreme authority in principle
Global inflation, signs of looming food shortages may be driving forex market in DPRK
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