Aidan Foster-Carter argues that Chinese business interests dominate North Korea’s international trade
In an article written for the Financial Times, Aidan Foster-Carter argues South Korea has lost the North to China in light of recent trade figures.
Aidan Foster-Carter comments on the soaring trade figures witnessed in North Korea, highlighting its rarity for a country "not blessed with oil..[and still] under UN Security sanctions".
He proceeds "North Korea has never traded so much, and has always run a deficit". He attributes this to the collapse of the USSR, after which China became its main partner-come-sponsor.
As the value of imports from China increased, this consequently resulted in more debt as many were left unpaid. Aidan Foster-Carter follows on "The deficit rose..reaching $1.3bn in 2008-twice the level of Pyongyang's exports".
