News Feed

October 27, 2016 - United win Manchester derby Juan Mata struck to win a tight Man ... +++ October 27, 2016 - IAAF wants Bolt’s services KINGSTON, Jamaica – IAAF Pres ... +++ October 27, 2016 - Proper shutdown protocol needed, says Bynoe The Department of Emergency Managem ... +++ October 27, 2016 - ‘Out of touch’ Economist Ryan Straughn says the la ... +++ October 27, 2016 - Lowe looking to protect the south coast A senior policymaker has warned tha ... +++ October 27, 2016 - Road Hockey 5s hit halfway mark After three weeks of competition th ... +++

Kim Jong-un to reform North Korea economy

BEIJING — Impoverished North Korea is gearing up to experiment with agricultural and economic reforms after young leader Kim Jong-un and his powerful uncle purged the country’s top general for opposing change, a source with ties to both Pyongyang and Beijing said.

The source added that the cabinet had created a special bureau to take control of the decaying economy from the military, one of the world’s largest, which under Kim’s father was given pride of place in running the country.

The downfall of Vice Marshal Ri Yong-ho and his allies gives the untested new leader and his uncle Jang Song-thaek, who married into the Kim family dynasty and is widely seen as the real power behind the throne, the mandate to try to save the battered economy and prevent the secretive regime’s collapse.

The source has correctly predicted events in the past, including North Korea’s first nuclear test in 2006 days before it was conducted, as well as the ascension of Jang.

The changes could herald the most significant reforms by the North in decades. Previous attempts at a more market driven economy have floundered, most recently a drastic currency revaluation in late 2009 which triggered outrage and is widely believed to have resulted in the execution of its chief proponent. (Reuters)

Leave a Reply

Your email address will not be published. Required fields are marked *