The son also rises

Article Abstract:

The leader of North Korea, Kim Jong Il, has been officially appointed general secretary of South Korea's Workers' Party. Kim has relaxed controls on agriculture and permitted some private farming. He appears to be seeking to prevent the economy collapsing, and observers are asking whether further opening will follow his appointment. North Korea suffers a food shortage and is receiving international aid, mainly from the US and South Korea. Some diplomatic initiatives have been made and there is hope that progress can be made over peace talks.

Economic Programs, Administration of Economic Programs, Economic policy, North Korea, Kim Jong-il

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Balancing act

Article Abstract:

Capital investments are keeping South Korea's economy in high gear, but exports are not keeping up with imports, widening the current-account and trade deficits, especially with Japan. The rising yen is making S Korean goods more competitive overseas, but is raising the cost of capital goods from Japan. The trade deficit is now $6.9 billion, 88% more than a year ago, and should reach $10 billion by year's end, while the current-account deficit reached $5.7 billion in the first 6 months. However, the economy is slowing.

South Korea, Economic aspects, Economic indicators

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