Democratic People's Republic of Korea could become a market economy in 20 to 25 years

Summary: The People’s Republic of China’s integration into the global economy and East and West Germany’s reunification show the Democratic People's Republic of Korea — or the DPRK — how it might become a market economy within 20 to 25 years. Naoyuki Yoshino, dean of the Asian Development Bank Institute, told the Foreign Correspondents Club of Japan that the DPRK could also look to the success of other Asian countries in using domestic savings to kick-start growth. Other key ingredients for a successful transition would be infrastructure development, education and training, as well as the promotion of student and worker exchanges between the DPRK and other countries. The country could start with a postal savings network similar to those used in Japan and China, which would help start the process of building a financial system. From that, insurance and pension funds could be developed. The money that was deposited could be used for economic development. Read the transcript https://bit.ly/2vK8AZH About the speaker Naoyuki Yoshino is dean of the Asian Development Bank Institute. Know more about ADBI’s work https://bit.ly/2vIYRmw https://bit.ly/2vIZ3lK