Salem Radio Network News Sunday, October 1, 2023


‘Dollarization’ of North Korean economy threatens Kim’s rule


( ) -q-27- UNDATED (Correspondent Jeremy House) “angering the public.”

North Korea has tolerated the widespread use of more stable foreign currencies like U.S. dollars and the Chinese yuan since a bungled revaluation of the won in 2009 triggered runway inflation and public unrest.

[CutID: <Cuts> NOKOR-DOLLARIZATION-house-q-FRIam.mp3
Time: 27s
Out-cue: angering the public]

TAG: Correspondent Jeremy House reporting.

VERBATIM: The so-called  “dollarization” phenomenon helped ease inflation and stabilize foreign exchange rates. But experts say the currency substitution may hurt leader Kim Jong Un’s authority by undermining the government’s control of the money supply and its ability to set monetary policies. Now, observers say Kim may be trying to roll back use of the foreign currencies to tighten his grip on the economy, a move that could backfire by just confusing and angering the public.

Editorial Cartoons

View More »

Michael Ramirez
Thu, Sep 21, 2023