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China-Japan-Koreas
NorK Government deregulates food markets, runs trade surplus with ROK
2010-02-27
Two interesting bits of news. Most importantly North Korea has deregulated food markets.
"the People's Security Bureau also received the Central Committee's order, and passed on a special instruction to each regional security office ordering agents not to crack down on markets for anything other than illegal goods, and not to regulate food sales, in particular." Local authorities were also ordered not to engage in altercations with market traders and not to intervene or interfere in fights between traders working within the markets.

Additionally, it has been reported that North Korea is running a trade surplus with South Korea. Balance of payments is not understood by most people who believe that a trade deficit or surplus is good or bad like a budget surplus or deficit. It isn't. A constant trade surplus is not sustainable (as China will be discovering) and most countries only run one when their economy is in bad shape.
This old article has more information of trade deficits.
I wish there was a picture of Oliver Twist (more food, please!)
Posted by:crosspatch

#1  
Posted by: Angomp Prince of the French3259   2010-02-27 12:04  

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