Analysis From McDonald’s to Walmart: How North Korea can reinvent its economyLarge Western retail corporations could serve as a model for Pyongyang’s centrally-planned production Following the collapse of the Soviet Union and the ensuing famine in North Korea, Pyongyang has begrudgingly ceded some control of the economy to private traders in the country’s black markets. Now, Kim Jong Un appears to be attempting to reassert his control over the North Korean economy. It’s unclear what exactly this will entail, however. Instead of looking to the failed socialist economies of the past, Kim may find his model for a new economy by turning to large Western retail corporations like Walmart. Such corporations already operate as large islands of © Korea Risk Group. All rights reserved. |