Published On: Wed, Dec 21st, 2011

N. Korea: Young Shoulders To Bear Burden Of A Poor Economy

He might not be ready for responsibilities, but it doesn’t matter much. Destiny has brought him the responsibilities and has to take them up…anyways.

N. Korea: Young Shoulders To Bear Burden

The young shoulders of Kim Jong-Un have to bear the burden of ruinous economy of the North Korea. Though the country has a nuclear power, it too will not seemingly pay much amid the resistance on the issue from international powers in the leadership of the US.

The observers in the region say North Korea hardly makes for a country that could be led by a novice leader. Korea Herald is reported having said that energy shortage, repression, corruption, scanty foreign investments, military high-handedness, and a “false” pride of having a nuclear power add to the burdens for the new leadership.

The economy of North Korea was greatly supported by the then-strong-and-united Soviet Union; but after its fall in 1989 onwards, the loss was also greatly felt due to the consequent fall in the aids.

The communist nation faces strong competition from its historically southern counterpart—the South Korea, which enjoys support from the US and others to lead its economy manifold larger than N. Korea’s.

In the days of North Korea’s fast growth, it was cheered as a star by the communists throughout the world, but its ruinous economy later provided the basis for criticism of communist principles of centrally planning a nation’s economy.

The country faced poor economy particularly in 2009 and 2010, when its agricultural growth went sluggish. Increasing hostility on the international forms also imposed further sanctions on its economy only to result in a more fragile economy.The industrial production as well as infrastructure also worsened. North Korea is a country that shares the global food crisis seriously.

The North Korean government has firmly stood on its principles of sort of socialist economy amid the strong call from China and others to take the country on the road of liberalization. The same applies for its nuclear tests. It has so far defended its rights to test its nuclear power amid stringent oppose from the US that, at times,has been escalating sharply in the international diplomatic forums.

As of the economy,the country tried some liberalization steps in 2002, but it did not go muchforward, when it rolled back the steps in 2005. Liberalization of the economy and giving a free space to the market forces is contrary to the socialist principles of the country that guarantees, albeit probably in principles only, everything for its citizens from birth to death.

It is this background; the new young leader will have to takepolitical and military command of the country. The transition of powers to the young leader was reportedly being taken up in a protracted manner, and was due to complete anytime in 2012. The incomplete inheritance may also add to the complications.

But the major challenge before the leader will certainly will be to take care of its degrading economy, corruption and food crisis. If the young leader tries the liberalization path, he is likely to face protests from inside the country amid the emotional atmosphere for the late leader and his policies. The West may try to weaken the nation’s stand on nuclear power and will try to benefit from the difficult situation in the nation.

The policies that will govern the nation as well as the competence of the young leader are all to be seen in the coming months and years.