Yeongseop Rhee, Patrick Messerlin
July 18, 2019 Forthcoming
Reference - 152 Pages - 17 B/W Illustrations
ISBN 9780367179762 - CAT# K416085
Series: Routledge Studies in the Modern World Economy
Throughout North Korea’s history, it has regarded external relations with suspicion and as potential threat to its regime. With North Korea working towards denuclearizing, there is now hope for the economic opening of North Korea. This book looks at external economic strategies that North Korea will show much interest in for its reforms and development, and that are related with East Asian economic integration process.
This book emphasizes that considering theoretical factors and conditions of the North Korean economy, economic opening and integration should have a high priority, anteceding or at least being parallel to economic reforms and transformation. Also, among various alternative strategies to achieve the goal of economic reforms and development based on economic opening, utilization of East Asian regional economic integration framework would be the best option for North Korea, because it can provide an opportunity to overcome structural problems of its external economic relations and to circumvent political conflicts, leading to a smoother rapprochement towards economic opening.
This book is timely as it presents how a new economic blueprint on the Korean peninsula may be accomplished.
2. Theory of Economic Integration and Transformation
3. North Korea's Motives and Strategies for External Economic Relations
4. North Korea's External Economic Relations
5. Progress of Regional Integration in East Asia
6. North Korean Trade Policy: Constraints and Options
7. Regional Financial Cooperation and North Korean Development
'The North Korean economy is changing, but from the nuclear and security standpoints the country remains a problem. In this important book, Rhee and Messerlin show how economic engagement can aid the economic transition and also help with the security challenge. American, European and Asian strategists alike would be well advised to pay close attention to the authors' proposals.' — Barry Eichengreen, George C. Pardee and Helen N. Pardee Professor of Economics and Political Science, University of California, Berkeley
'Managing economic reform and gradually opening the economy to foreign trade and investment is a key challenge confronting North Korean policymakers. This book presents a roadmap for doing so, drawing on the experience of other transition countries. It offers valuable, practical guidance on the design of an external economic policy reform strategy, making a compelling case that this should center on integration into the East Asian economy.' — Bernard Hoekman, Robert Schuman Centre for Advanced Studies, European University Institute