The Great Confiscation Backfires, Badly
How can we tell that North Korea is in a state of self-inflicted economic chaos? When the regime can’t even conceal it from the barbarians. AFP, quoting an unidentified Western diplomat via Yonhap, reports that “[a]t the Koryo Hotel where many foreigners stay, the [North Korean won exchange] rate swung from 51 won to 120 in the space of a few hours on January 22.” Another report says that currently, prices in North Korea are “anyone’s guess” and that in...