The Sino‐North Korea international economic relationship and the economic development of North Korea

The North Korean government has tried to promote export and attract foreign direct investment (FDI) since the 1990s. Sino‐North Korea trade values jumped during the 2000s, and China became North Korea's largest trade partner. China's FDI in North Korea began to increase abruptly since the...

Full description

Saved in:
Bibliographic Details
Published in:World economy 2021-02, Vol.44 (2), p.586-600
Main Author: Mah, Jai S.
Format: Article
Language:English
Subjects:
China
Economic analysis
Economic aspects
Economic development
foreign direct investment
Foreign investment
Foreign investments
International economics
International trade
Mining
North Korea
trade
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:The North Korean government has tried to promote export and attract foreign direct investment (FDI) since the 1990s. Sino‐North Korea trade values jumped during the 2000s, and China became North Korea's largest trade partner. China's FDI in North Korea began to increase abruptly since the late 2000s. The mining sector led China's investment in and import from North Korea. Although China has dominated any other country in FDI inflows and international trade with North Korea, the former's contribution to the economic development of the latter has not been so substantial in the light of the composition of international trade and FDI inflows. To materialise the potential of Sino‐North Korea trade and Chinese firms' investment in North Korea further, it is essential to improve North Korea's diplomatic relationship with China. In addition, the North Korean government needs to pay attention to upgrading the structure and composition of bilateral trade and FDI inflows from China.
ISSN:0378-5920
1467-9701
DOI:10.1111/twec.12903