I became interested in North Korea in 2002 when the George W. Bush administration declared the country to be part of an Axis of Evil, along with Iraq and Iran. Bush had lied about Iraq, to justify a war against that country, and I wondered what evidence, if any, his administration had that North Korea was either evil or part of an axis. The answer was none. Bush was able to propagate one North Korean myth after another because the public knew very little about the country. I wished to give people some background so they could make sense of what they were reading and hearing about North Korea in the news and social media.
Abt, an entrepreneur who lived in North Korea for seven years, challenges the myths and misconceptions about the DPRK that flourish in the West, not only among people who are inclined to believe the East Asian state is a hell on earth, but also among those who are apt to overlook its failings. I really liked this book. It is clearly written and the pace is brisk and engaging.
Business in North Korea: a paradoxical and fascinating situation is interpreted by a true insider.
In 2002, the Swiss power company ABB appointed Felix Abt its country director for North Korea. The Swiss Entrepreneur lived and worked in North Korea for seven years, one of the few foreign businessmen there. After the experience, Abt felt compelled to write A Capitalist in North Korea to describe the multifaceted society he encountered.
North Korea, at the time, was heavily sanctioned by the UN which made it extremely difficult to do business. Yet he discovered that it was a place where plastic surgery…
We teamed up about fifteen years ago around a common interest in the political economy of North Korea; Haggard is a political scientist, Noland an economist. Both of us had spent our careers focused on Asia but looking largely at the capitalist successes: Japan and the newly industrializing countries of Korea, Taiwan, and Southeast Asia. But what about the anomalous cases in the region that did not get on the growth train? The “Asian miracle” was hardly ubiquitous…what had gone wrong? North Korea was clearly the biggest puzzle, and we ended up researching and writing on the famine, refugees, and the complexities of international sanctions.
For those with some economics background and willing to do their homework, Kim’s book is the state of the art. He has sorted through all the shards of data out there—on prices, output, and trade--and pulled them together into a compelling mosaic. Of particular interest is his discussion of possible transition paths--were the regime to change course--as well as the possibility that the system might come crashing down altogether.
North Korea is one of the most closed and secretive societies in the world. Despite a high level of interest from the outside world, we have very little detailed information about how the country functions economically. In this valuable book for both the academic and policy-making circles, Byung-Yeon Kim offers the most comprehensive and systematic analysis of the present day North Korean economy in the context of economic systems and transition economics. It addresses what is really happening in the North Korean economy, why it has previously failed, and how the country can make the transition to a market economy.…
