Suchergebnisse

Introduction -- The South Korean economy until 1997 -- The North Korean economy -- The nuclear confrontation -- The slow-motion famine in the North -- The financial crisis in the South -- The prospect of successful reform in the North -- The implications of North Korean collapse -- Can the North muddle through? -- Conclusions

South Korea's development over the last half century has been nothing short of spectacular. Fifty years ago, the country was poorer than Bolivia and Mozambique; today, it is richer than New Zealand and Spain, with a per capita income of almost $23,000. For 50 years, South Korea's economy has grown by an average of seven percent annually, contracting in only two of those years. In 1996, South Korea joined the Organization for Economic Cooperation and Development, the club of rich industrialized countries, and in 2010, it became the first Asian country and the first non-G-7 member to host a G-20 summit. Adapted from the source document.

This article examines the extent to which UN Security Council sanctions imposed on North Korea following Pyongyang's nuclear test have impacted North Korea's foreign trade.