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Can Kim's economic ambitions survive the COVID-19 pandemic? [Los Angeles Times :: BC-COVID-NKOREA-EEDITION:MCT]

Can Kim’s economic ambitions survive the COVID-19 pandemic? [Los Angeles Times :: BC-COVID-NKOREA-EEDITION:MCT]
After declaring three years ago that his country fulfilled it decadeslong ambition to become a nuclear power, North Korean leader Kim Jong Un turned his attention to fixing an ailing economy that was undermining his pledge to better the lives of his people.
Since then, despite heavy international sanctions restricting trade and most financial transactions, the economy has limped along. Prices remained relatively stable. Growth exceeded expectations. Kim appeared confident enough about his country’s prospects that he rebuffed negotiations by former President Trump to give up North Korea’s nuclear arsenal in exchange for lifting sanctions. ....

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Can Kim Jong Un's economic ambitions survive the COVID-19 pandemic? [Los Angeles Times :: BC-NKOREA:LA]

Can Kim Jong Un’s economic ambitions survive the COVID-19 pandemic? [Los Angeles Times :: BC-NKOREA:LA]
After declaring three years ago that his country fulfilled it decadeslong ambition to become a nuclear power, North Korean leader Kim Jong Un turned his attention to fixing an ailing economy that was undermining his pledge to better the lives of his people.
Since then, despite heavy international sanctions restricting trade and most financial transactions, the economy has limped along. Prices remained relatively stable. Growth exceeded expectations. Kim appeared confident enough about his country’s prospects that he rebuffed negotiations by former President Trump to give up North Korea’s nuclear arsenal in exchange for lifting sanctions. ....

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Can Kim Jong Un's economic ambitions survive the pandemic?

President Trump charted a whipsaw course in relations with North Korea, going from alarming nuclear tests and brash threats to friendly summits with Kim Jong Un. President-elect Biden has not ruled out meeting with Kim but has signaled he’d revert to a more patient, measured approach.
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In a speech at a party congress this month, Kim acknowledged the country “fell a long way short” of five-year economic targets set in 2016, a candor that has set him apart from his father.
Blaming external factors and his government for the economic failings, Kim appeared to double down on emphasizing self-reliance and self-sufficiency, signaling a further retreat from the modest liberalization that defined his early years. With Kim’s tacit acceptance of private enterprise and informal markets, North Korea saw an emerging middle class, myriad construction projects and improved lives even in rural areas. ....

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Can Kim Jong Un's economic ambitions survive the COVID-19 pandemic?

Can Kim Jong Un s economic ambitions survive the COVID-19 pandemic?
Victoria Kim
© Provided by The LA Times
North Korean soldiers applaud Kim Jong Un at a Workers Party congress in Pyongyang on Jan. 15, 2021. (Jon Chol Jin / Associated Press)
After declaring three years ago that his country had fulfilled its decades-long ambition to become a nuclear power, North Korean leader Kim Jong Un turned his attention to fixing an ailing economy that was undermining his pledge to better the lives of his people.
Since then, in the face of heavy international sanctions restricting trade and most financial transactions, the economy has limped along. Prices remained relatively stable. Growth exceeded expectations. Kim appeared confident enough about his country s prospects that he rebuffed then-President Trump’s offer to negotiate a deal in which North Korea would give up its nuclear arsenal in exchange for the lifting of sanctions. ....

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North Korea seeks economic boost in major party congress amid Covid-19, sanctions pain

SEOUL (BLOOMBERG, REUTERS) - North Korea’s Kim Jong Un will likely seek fresh impetus for driving growth at a ruling party congress in January after the pandemic added to the pain of sanctions that leave him with a smaller economy than the one he took over nine years ago.
The Eighth Congress comes amid the presidential transition in the United States, which North Korea has yet to comment on.
President Donald Trump had engaged in a number of historic meetings with the leader of the reclusive state during his administration and it is not yet clear what Joe Biden’s presidency will mean for relations between Washington and Pyongyang. ....

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