Didn’t I Tell You? Yuan Becoming De Facto North Korean Currency

The Chosun Ilbo picks up this Open Radio report:

The broadcaster quoted a North Korean source as saying North Korean banknotes are nothing but pieces of paper, and almost all goods are traded in yuan. “Not even cart pushers would accept won for their work,” the source said. Having watched their new currency plummet in value over less than a month after the reform, North Korean residents realized that the yuan is a safer asset, the station added.

Just as I predicted. Even in North Korea, markets are resilient things. Not even the world’s most authoritarian regime can beat them.