Monday, October 1, 2012

The reason behind North Korea's economic reform

Recently North Korea under Kim Jong-un is believed to be reforming its economy. On the so-called 6-28 policy, North Korea has a clause allowing private property. This may seem like a move towards capitalism like their strongest ally, China, have done. However, this move is not for the North Korean people, but for the luxurious life of the North Korean leaders. The background to my statement comes from Kim Jong-un's actions. Kim Jong-un exploited 90% of the wages of workers at Kaesong Industrial Region and hid it in a flush fund. Moreover, the people close to Kim Jong-un and Kim Jong-un, himself, lived a luxurious life buying luxury items while their people are in plight due to floods since late June.

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