Monday, September 24, 2012

Major Agriculture Reforms likely in North Korea

A source close to both Pyongyang and Beijing told Reuters' Benjamin Kang Lim that farmers will soon be allowed to keep half their crop:
"Peasants will have incentive to grow more food. They can keep and sell in the market about 30-50 percent of their harvest depending on the region,"
The move appears to be an attempt to lightly reform the North Korean economy so that the famines of the 1990s would not be repeated. 
The incentive would mark a reversal of a clampdown on private enterprise that began in 2005, and appears to be directed at rising rice prices widely reported by overseas press.

Read more: Business Insider


Post a Comment

Twitter Delicious Facebook Digg Stumbleupon Favorites More

Design by Free WordPress Themes | Bloggerized by Lasantha - Premium Blogger Themes | Web Hosting Bluehost