North Korea "re-evlauates" currency

[Zarquon]

North Korean currency revaluation devastates economy

North Korea's surprise decision to redenominate its currency had North Koreans rushing to the black market in a panic to convert worthless piles of cash into U.S. dollars and Chinese yuan. With the economy undermined by the most drastic revision of the currency in 50 years, shops and restaurants began to shutter, according to activists. Analysts say the decision was aimed at eliminating the private sector, which North Korean officials had allowed to flourish in an effort to alleviate widespread hunger among the people. Officials raised security, predicting protests and riots
My Source:UN Wire
Related Articles: http://www.guardian.co.uk/world/2009/dec/03/north-korea-won-currency-revaluation
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[Michael]

I missed this news item! :eek:

Well, it is generally recognized that North Korea is one of the worst basket-case economies on the planet (where vast numbers of people starve to death on a routine basis). And they do have a long history of making public policy designed to make their economy worse. :shrug:

With North Korea, the only issue that I'd be concerned about is their political stability (and massive army).

[The Drunk Guy]

With North Korea, the only issue that I'd be concerned about is their political stability (and massive army).
This could turn rather nasty. I hope folks are keeping a close eye on things. I'm no fan of intervening in internal affairs, but that could be a very dangerous situation.

[Michael]

This could turn rather nasty. I hope folks are keeping a close eye on things. I'm no fan of intervening in internal affairs, but that could be a very dangerous situation.
There are 40,000 US troops permanently stationed on the S.Korean side of the DMZ.

[The Drunk Guy]

There are 40,000 US troops permanently stationed on the S.Korean side of the DMZ.
But that's not going to stop Kim from ripping apart a protest.

[Michael]

But that's not going to stop Kim from ripping apart a protest.
No, that's not what those troops are there for. They are there to make sure that what happens in N.Korea stays in N.Korea.

[The Drunk Guy]

No, that's not what those troops are there for. They are there to make sure that what happens in N.Korea stays in N.Korea.
Right, but that's what scares me. He could kill every civilian and we wouldn't know until it was done and the graves were being dug. That kills me because he's brainwashed those poor saps. Heartbreaking.

[Michael]

Right, but that's what scares me. He could kill every civilian and we wouldn't know until it was done and the graves were being dug. That kills me because he's brainwashed those poor saps. Heartbreaking.
I'd say that several hundred thousand have already died under the rule of the two Kims. What's a few more?

[Americano]

No, that's not what those troops are there for. They are there to make sure that what happens in N.Korea stays in N.Korea.

A token force. If N. Korea decided to invade S. Korea it would be like the US going through Iraq until the US could either abandon Iraq/Afghanistan to deal with it or institute a draft and go in later. N. Korea's well trained and equipped army, they hold field maneuvers only during winter, is over one million strong. 180,000 mobile special ops troops alone. Either way it would be really bloody. S. Korea's military is a little over 600k.

N. Korea is internally equipped to handle anything but total rebellion. Starvation could do that but I'd think the usual donors will again pay N. Korean demands for economic aid to keep it self-contained. A prudent investment with the condition of N. Korea staying within its borders.

[Americano]

Right, but that's what scares me. He could kill every civilian and we wouldn't know until it was done and the graves were being dug. That kills me because he's brainwashed those poor saps. Heartbreaking.

We've (US) commonly supported despotic dictators. Iraq under early Saddam comes to mind. S. America has too many to remember. And look who the government is we support in Afghanistan; the second most corrupt country in the world, right behind Somalia, the fledgling democracy Afghanistan.

We'll quietly contribute economic aid to N. Korea with other countries who don't want the disruption of a national rebellion or war with S. Korea as long as Kim keeps it in-house. He doesn't have anything anybody wants.

[Zarquon]

I missed this news item! :eek:

subscribe to UN wire(UN's newsletter service), good stuff every week.
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The only reason the Democratic People's Republic of Korea(most misleading state name in history!) exists is because of People's Republic of China's backing it due to their vested interest in keeping Korea divided. A untied Korea would be an even stronger economy, and a US-ally right on its border, and they can't have that.
I am outraged that these things can happen, that there aren't any further measures available to the international community to discipline and perhaps change this regime, and that thanks to the Iraq fiasco, national sovereignty is again seen as inviolable and no one is willing to sort out these sort of situations(From Sudan to Myanmar to DPRK) militarily.:(