Yesterday's war, tomorrow's peace
Article Abstract:
North and South Korea are likely to be reunited and this will be triggered by events in North Korea. South Korea would prefer to postpone the process since the South Korean economy has been hit by the Asian financial crisis. There is a danger of war in the Korean peninsula and this could lead to a lrage number of deaths. North Korea could also collapse, and starving migrants from North Korea could put a heavy burden on South Korea. The South Korean economy has performed well, helped by a well-educated population with a propensity to save, but there is a need for economic restricturing.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Through the looking glass
Article Abstract:
Hunger is a serious problem in North Korea, and especially affects children, though the situation appears to have improved in the two years to 1999. Decisions on the economy are made for political reasons and quality is low at manufacturing plants. The president, Kim Jong Il, has taken over from his father, though hereditary succession was previously seen as reactionary in North Korea. Spending on the armed forces has consumed scarce resources. A policy of self-sufficiency has meant that North Korea cannot enjoy any benefits from international trade.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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The third miracle
Article Abstract:
South Korea is seeking to improve relations with North Korea in order to postpone reunification to allow South Korea to prepare to meet the cost of this process. There will be a need to invest in roads, telecoms and electricity supply. Northerners also have to learn new skills in a wide range of areas if they are to be attractive to employers. North Korea is very much poorer than South Korea, and the gap between the two is wider that the gap was between East and West Germany prior to German reunification.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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