Open Sources, 17 September 2012
NORTH KOREAN REFORM WATCH, PART I: Marcus Noland writes that inflation has risen sharply, and that “macroeconomic instability” has returned to North Korea: Recent anecdotal reports of price changes conveyed in both press reports and in private communications from travelers returning from North Korea suggest a surge in inflation. Simple calculations suggest that the value of the won may have depreciated at an annualized rate of 200 percent or more over the past 6 months, with some evidence of an...