How North Korea’s Economy Thrives On Its Black Market
Is Gentrification Turning London Into A Ghost Town? http://bit.ly/1Sb8wpm Subscribe! http://bitly.com/1iLOHml As the hermit kingdom, North Korea is closed off from global trade, but the nation...
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We don’t really know what life is like inside North Korea. We do know it’s ruled by this guy, we know it’s the subject of numerous insane rumors and we know the sealed borders prevent us from learning much of anything about the place. But one thing that is becoming a little more clear is the state of the Hermit Kingdom’s economy, one that may have been built on the backs of smugglers and black market traders. For the most part the economy in North Korea is run by the government, including imports, exports and manufacturing. In fact, private trade is illegal, but that doesn’t mean it doesn’t happen. Over the last couple of decades North Koreans have developed a gray market, or an informal economy, one that is not monitored, controlled or taxed b...
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We don’t really know what life is like inside North Korea. We do know it’s ruled by this guy, we know it’s the subject of numerous insane rumors and we know the sealed borders prevent us from learning much of anything about the place. But one thing that is becoming a little more clear is the state of the Hermit Kingdom’s economy, one that may have been built on the backs of smugglers and black market traders. For the most part the economy in North Korea is run by the government, including imports, exports and manufacturing. In fact, private trade is illegal, but that doesn’t mean it doesn’t happen. Over the last couple of decades North Koreans have developed a gray market, or an informal economy, one that is not monitored, controlled or taxed b...
