latest news from north korea image
Tyler
Every hour of everyday you read something in the news articles about North Korea threatening another country (particularly US, Japan and South Korea). Their threats have done nothing but increase over the months (years actually) without any strong response from these nations, except sanctions.
I think sanctions are somewhat the right approach, but at the same time we're hurting the innocent citizens of North Korea. Starving them.
Remember back in the 90's how some regimes started threatening other countries? The other countries didn't respond until they seen the regime were not talking anymore but killing. We had a chance to stop it before it got bad but we waited until it was too late...
We hear what the Gov't has to say but my questions to you are:
What are your viewpoint's on this situation?
How do you think we can stop the threats without war?
Do you think countries like Japan, US & SK should attack now to stop the growing dangers?
What do you think about North Korea threatening countries with "Preemptive Nuclear Strikes"?
Do you think war is the only solution? (I don't, especially nuclear!!)
I want to see and hear what you, the Citizens of these Countries have to say. Your voices matter and should always be heard!
Answer
Threats don't Impress me. Actions- Do. And I don't see N. Korea doing Anything- to back up Their Threats.
Threats don't Impress me. Actions- Do. And I don't see N. Korea doing Anything- to back up Their Threats.
How is North Korea's currency reform fighting inflation?
frank x
I heard about the currency reform within North Korea a couple of days ago, and they said this is fighting inflation. How is it fighting inflation? I don't really understand why.
Also, this is not an action of lowering the exchange rate correct? It is a currency reform, is that the same with lowering the exchange rate?
Answer
North Korea revamped its national currency for the first time in 17 years, reports said Tuesday â a move that appeared aimed at reviving its dilapidated economy by curbing inflation and black market trading.
North Korea revalued its currency at an exchange rate between old and new notes of 100 to 1, China's Xinhua news agency said in a brief dispatch from Pyongyang. It cited a verbal notice Tuesday from North Korea's Foreign Ministry to foreign embassies in North Korea.
Residents began swapping old 1,000-won notes with 10-won notes on Monday, the Yonhap News Agency said in Seoul, citing unidentified North Korean traders operating in China. They told Yonhap the redenomination was aimed at fighting inflation and flushing out money traded on the black market.
North Korean authorities ordered residents to exchange their old notes by Wednesday, South Korean broadcaster YTN said in a similar report.
The mass-circulation Chosun Ilbo newspaper said the redenomination was to start from Tuesday, and speculated that the move is part of leader Kim Jong Il's way of tightening control over his nation's 24 million people as he prepares to hand over his power to one of his three known sons. The paper also cited unidentified sources in North Korea.
Officials at the National Intelligence Service and the Unification Ministry in Seoul said they couldn't immediately confirm the report.
It would be the impoverished communist country's first currency revamp since 1992, when North Korea issued new notes with the exchange rate set at 1:1. The regime implemented a similar currency redenomination in 1959.
Analysts called it a significant move toward economic reform for a nation with a stagnating economy and millions going hungry.
"The aim is to flush out money being traded on the black market and to reinvest it in the public sector â part of a bid to revitalize the economy. Broadly, it's aimed at building an economically prosperous nation," said Dong Yong-sueng, a senior fellow at Samsung Economic Research Institute in Seoul.
Pyongyang has set 2012 â the centenary of late North Korea founder Kim Il Sung's birth â as a goal for building a "prosperous" nation.
Koh Yu-hwan, a North Korea expert at Seoul's Dongguk University, also said the move was part of ongoing measures to reform the economy and open up to trade with the outside world.
Communist North Korea has relied on outside food handouts since the mid-1990s, when the economy collapsed due to natural disasters and mismanagement, and aid from the former Soviet Union dried up after the bloc's collapse.
The regime introduced economic reforms in 2002, including street and farmers' markets. But the government backtracked in 2006 after the reforms failed to revive the economy and resulted in an influx of foreign goods.
North Korea revamped its national currency for the first time in 17 years, reports said Tuesday â a move that appeared aimed at reviving its dilapidated economy by curbing inflation and black market trading.
North Korea revalued its currency at an exchange rate between old and new notes of 100 to 1, China's Xinhua news agency said in a brief dispatch from Pyongyang. It cited a verbal notice Tuesday from North Korea's Foreign Ministry to foreign embassies in North Korea.
Residents began swapping old 1,000-won notes with 10-won notes on Monday, the Yonhap News Agency said in Seoul, citing unidentified North Korean traders operating in China. They told Yonhap the redenomination was aimed at fighting inflation and flushing out money traded on the black market.
North Korean authorities ordered residents to exchange their old notes by Wednesday, South Korean broadcaster YTN said in a similar report.
The mass-circulation Chosun Ilbo newspaper said the redenomination was to start from Tuesday, and speculated that the move is part of leader Kim Jong Il's way of tightening control over his nation's 24 million people as he prepares to hand over his power to one of his three known sons. The paper also cited unidentified sources in North Korea.
Officials at the National Intelligence Service and the Unification Ministry in Seoul said they couldn't immediately confirm the report.
It would be the impoverished communist country's first currency revamp since 1992, when North Korea issued new notes with the exchange rate set at 1:1. The regime implemented a similar currency redenomination in 1959.
Analysts called it a significant move toward economic reform for a nation with a stagnating economy and millions going hungry.
"The aim is to flush out money being traded on the black market and to reinvest it in the public sector â part of a bid to revitalize the economy. Broadly, it's aimed at building an economically prosperous nation," said Dong Yong-sueng, a senior fellow at Samsung Economic Research Institute in Seoul.
Pyongyang has set 2012 â the centenary of late North Korea founder Kim Il Sung's birth â as a goal for building a "prosperous" nation.
Koh Yu-hwan, a North Korea expert at Seoul's Dongguk University, also said the move was part of ongoing measures to reform the economy and open up to trade with the outside world.
Communist North Korea has relied on outside food handouts since the mid-1990s, when the economy collapsed due to natural disasters and mismanagement, and aid from the former Soviet Union dried up after the bloc's collapse.
The regime introduced economic reforms in 2002, including street and farmers' markets. But the government backtracked in 2006 after the reforms failed to revive the economy and resulted in an influx of foreign goods.
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