Sanctions and Their Implications for North Koreas Trade and Economy

This paper deals with effect of UN sanctions on DPRK’s national economy and foreign trade. It is shown that civil, humanitarian spheres and light industries were hit the most by sanctions while unobserved trade seems to have suffered little. On the contrary, sanctions lead to expansion of sectors linked to illegal trade. North Korea is compelled to look for alternative ‘grey’ routes for its foreign trade operations building its own trade chains that are supported by adequate logistics and financial infrastructure. This leads to the need to spend efforts on finding illegal access to international markets and the inefficiency of the economic system as a whole. The authors believe that it would be more effective to create such a restrictive mechanism that would allow the DPRK to carry out economic transformation through international trade and thereby eliminate the reasons for its provocative actions.

Keywords

the North Korea, DPRK, international trade, sanctions, economic development, illegal export and import trade

Received

01.12.2019

Publication date

05.12.2019

Number of characters

37663

Cite

GOST	Bulychev G., Korgun I. Sanctions and Their Implications for North Korea's Trade and Economy // Problemy Dalnego Vostoka – 2019. – Issue 5(2) C. 64-75 [Electronic resource]. URL: https://pdv.jes.su/S013128120007505-6-1 (circulation date: 23.04.2024). DOI: 10.31857/S013128120007505-6
MLA	Bulychev, George, Korgun, Irina A "Sanctions and Their Implications for North Korea's Trade and Economy." Problemy Dalnego Vostoka 5(2) (2019):64-75. DOI: 10.31857/S013128120007505-6
APA	Bulychev G., Korgun I. (2019). Sanctions and Their Implications for North Korea's Trade and Economy. Problemy Dalnego Vostoka (5(2)), pp.64-75 DOI: 10.31857/S013128120007505-6

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