The North Korean economy, like the rest of the world, is now likely hurting as a result of the novel coronavirus. Economies are composed of different sectors, actors, and dynamics, which are interconnected and the dynamics mean that they are complex.

We do not know how long the current crisis will last and how it will affect behavior in North Korea’s major export market (China) or the supply of inputs and consumer goods from China.

Much of the world faces a demand shock, and lots of businesses providing goods/services suddenly see demand collapse (hospitality, tourism, travel