North Korea’s Market Dilemma: Balancing Control and Revenue Generation

Quick Summary:

While markets remain regulated to varying degrees across regions, authorities appear focused on stimulating rather than shutting them down, likely as a means to raise funds.

According to the 2024 Bertelsmann Transformation Index, published by the German research institute Bertelsmann Stiftung, North Korea ranks 131st out of 137 countries in terms of democratic and market economy transformation.

The strategy suggests a proactive approach by North Korean authorities to utilize markets as a revenue-generating tool for government initiatives.

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Article Details

Author / Journalist: Lee Sang Yong

Category: Economy

Markets: United StatesBangladeshChinaEritreaGermanyIndiaNorth KoreaMaliMyanmarPakistanSomaliaSudanUkraineUzbekistanYemen

Topics: Korean Policy North Economic Authorities Market Markets Korea Government Street Fees

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-26 @ 22:11:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2399 words

Reading Time: 14 minutes read

Sentences: 123 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21785445

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