North Korea: From hyperinflation to dollarization? – Globe Asia – July 2013

North Korea: From Hyperinflation to Dollarization?

Following North Korean supreme leader Kim Jong-il’s death in December 2011, many around the world had high hopes that his successor (and son), Kim Jong-un, would launch economic and political reforms. Unfortunately, in the year and a half since he assumed power, the new supreme leader has not delivered on his advertised economic reforms, and misery continues to grip all but those in North Korea’s communist ruling class.

During the past few months, North Korea has been the subject of outsized news coverage. The recent peacocking by the Supreme Leader – from domestic martial law policies to tests of the country’s nuclear weapons capabilities – has successfully distracted the media from North Korea’s economic woes.Read the full article by clicking on "View Document" below.