Will the region ever catch up to the Asian country?
Leer en Español: Corea del Norte crece más rápido que América Latina
Kim Jong Un’s objective in life is not to destroy the world, it’s to stay alive. According to game theory and international law, the Asian leader’s recent movements are clinically strategic. By keeping the world in peril by not attacking, he won’t be attacked. That’s his main objective.
As long as the supreme leader maintains political tension, time for further action on other fronts is acquired. Considering that China is North Korea’s ultimate ally in the region, North Korea will follow Chinese economic addendums.
Starting from 2011’s economic reforms in North Korea, the local workers are able to establish payments for their factory employees, having providers is also encouraged as well as being able to hold or fire staffs. The socialist reign is opening the possibility of labor rights which increase efficiency.
The year 2016 concluded with a 28.5-billion-dollar growth, which meant a 3.9% increase in its economy, the highest value in 17 years. In the same year, Latin America grew 1.1%, according to Bloomberg. The rising confidence that the reign is giving its people in exchange of legitimacy in power has even lead to the creation of private companies
Nowadays, it’s no strange sight to see BMW’s and Mercedes Benz’s on the street. The private sector is already accountable for 50% of North Korea’s GDP and the trend is directed to a progressive opening of the country under Chinese alignment.
For the American region, ending the primary sector dependence is something North Korea will also see in the near future; the end of a year's long hegemony and the surge of individual thrive through grit and determination.
Latin American Post | David Eduardo Rodríguez Acevedo
Copy edited by Susana Cicchetto