3 December 2009 (Updated)
THE GREAT CONFISCATION CONTINUES. The Wall Street Journal reports that in Pyongyang, the exchange has been “calm and orderly,” at least to the extent foreign observers have been able to tell. Meanwhile, the Daily NK explains who will be hurt most badly by this. If markets are damaged as badly as I suspect they might be, there could be a new flood of food refugees into China this winter. Another effect will be the final collapse of confidence by the...