North Korea Descending Into Economic Chaos
I’ve long believed that functionally, there were two North Korean economies — a mostly capitalist (and to the U.N., illicit) “palace” economy that funds Kim Jong Il’s regime, and an increasingly capitalist (and to Kim Jong Il, illicit) “peoples’ economy” that rose from the ashes of the failed Public Distribution System. Some say that international food aid ended the Great Famine, a famine that may have killed millions of North Koreans. There is some truth in this, but international food...