20 Oct '13, 1pm

Nice write up "@Strategypage: #KOREA: The Starving Masses Push Back

One thing North Korea learned from its decision earlier this year to close the Kaesong Industrial Complex (financed and run by 123 South Korean firms employing 53,000 North Koreans) in order to punish South Korea for trying to get the North Koreans to halt their nuclear weapons program was that cash is king. Kaesong was shut down by the north in April and the northern leaders soon discovered that the foreign currency generated by Kaesong was sorely missed. Few of the senior people in North Korea know much about accounting or how the world economy works, but the cash shortage created by the Kaesong shutdown got their attention. This was seen as an opportunity by China who soon convinced the northern leadership to make up with South Korea and get Kaesong operating again. China also pointed out that it would be possible to created many more Kaesongs and have even more cash wi...

Full article: http://www.strategypage.com/qnd/korea/articles/20131020.aspx

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