Wednesday, March 10, 2010
North Korea Watch: Trading is Light
For the first time in more than a decade, trade is down in North Korea, apparently going from bad to ... more bad.
South Korea is not surprising, given the problems over Mt. Geumgang, and the EU isn't altogether surprising with the given North Korea's generally bad behavior culminating in sanctions.
But China? I guess that's why they're working so hard to rectify the situation.
The report by the state-run Korea Development Institute made available on Wednesday said the largest impact came from a sharp decline in trade with China, the North's biggest benefactor that its leader is expected to visit in coming weeks.
Trade with South Korea and the European Union was also down, and the combined decline in trade with the three parties that account for nearly 90 percent of the North's trade points to an overall decline of at least 5 percent in the past year, KDI said in the report.
South Korea is not surprising, given the problems over Mt. Geumgang, and the EU isn't altogether surprising with the given North Korea's generally bad behavior culminating in sanctions.
But China? I guess that's why they're working so hard to rectify the situation.
Labels: north korea
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