Economic Sanctions During Humanitarian Emergencies: The Case of North Korea

summary North Korea is experiencing yet another cycle of humanitarian distress. While sanctions are not the primary cause, they are a contributing factor. This essay examines the channels through which sanctions affect the North Korean economy and reaches four conclusions: First, sanctions have cont...

Full description

Saved in:
Bibliographic Details
Published in:Asia-Pacific issues 2023-01 (157), p.1-8
Main Authors: Haggard, Stephan, Noland, Marcus
Format: Article
Language:English
Subjects:
Coronaviruses
COVID-19
Disaster relief
Economic analysis
Economic policy
Economic reform
Exports
Famine
Food
Food supply
Humanitarianism
International trade
Pandemics
Risk premiums
Sanctions
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:summary North Korea is experiencing yet another cycle of humanitarian distress. While sanctions are not the primary cause, they are a contributing factor. This essay examines the channels through which sanctions affect the North Korean economy and reaches four conclusions: First, sanctions have contributed to a deterioration of economic performance. Second, the UNSC's 1718 Sanctions Committee should consider a thorough review to identify goods that would warrant blanket humanitarian financial sanctions have raised the risk premium on all financial transac-tions with North Korea; the sanctioning authorities need to do a better job of clarifying transactions permissible under humani-tarian exemptions. Finally, while the global community should reassess its policies, the government of North Korea bears respon-sibility as well. The benefits of sanctions relief will be diminished if North Korea refuses to engage constructively with the tional on a broader range of issues running from basic humanitarian relief to economic reform. Analysis
ISSN:1522-0966