Insight: North Korean economy surrenders to foreign currency invasion

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posted on Jun, 2 2013 @ 06:21 PM
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I was browsing Yahoo news and I came across this article. The article deals with the weakening of the North Korean won (North Korean currency) and how the United States dollar and Chinese renminbi is becoming more widely used in North Korea. I feel like this is a broken record. But everyone seems to agree that North Korea is a failed state. The country has seen its shares of devastating floods that have killed numerous people and washed away crops for food; loss of allies have deter their chance for aid; etc.

In a book by author Michael Breen. He explains how North Korean economist were confused as about the modern concepts of the global economy (Marketing, trading, etc.) To me this reflects in the article. Because with North Korea becoming a hermit country it's going to be dealt with a lot of hard blows from a bad economy. That will effect how the country operates and is able to survive. I don't know how much this will affect North Korea in the long run. Unlike most countries North Korea has been hit hard so many times it amazing how it is still standing. What is your opinion about this article?


(Reuters) - Chinese currency and U.S. dollars are being used more widely than ever in North Korea instead of the country's own money, a stark illustration of the extent to which the leadership under Kim Jung-un has lost control over the economy.


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posted on Jun, 2 2013 @ 07:03 PM
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well, weather warfare and destruction of a nations currency are modern ways of conducting a war.
one might conclude that north korea is an enemy state that needs to be dealt with, but in my opinion, their destruction is beign used for some more nefarious purpose, as wars always are.
what exactly the plan is, however, i do not know.



posted on Jun, 2 2013 @ 07:42 PM
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Originally posted by tinhattribunal
well, weather warfare and destruction of a nations currency are modern ways of conducting a war.
one might conclude that north korea is an enemy state that needs to be dealt with, but in my opinion, their destruction is beign used for some more nefarious purpose, as wars always are.
what exactly the plan is, however, i do not know.

Weather warfare? Proof please.

Destruction of the currency? NK leaders don't trade in 'legitimate' currency and that is somehow a nefarious plot by others to undermine their economy?



posted on Jun, 2 2013 @ 08:15 PM
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Its the new leader, He has relaxed a lot of laws in NK since he came to power, I dont know if its his own decision or some advisers but the old way was obviously not working.





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