Poor get poorer as N Korea dabbles with capitalism

  • 26/05/2005

  • Financial Times (London)

For a state the prides itself on its communist principles, North Korea is experiencing some decidedly capitablist inequality these days. While the market-oriented practices that have been taking hold I the reclusive state over the past three years have improved the lives of some North Koreans, they have mainly served to increase the gap between the poor and even the poorer. Reflecting the impact of rising inflation on the economy, Pyongyang recently introduced a Won 10,000 note worth $4-$5 but double the amount of the previos highest bill.