Alternative futures for North Korea economy: From the North Korean perspectives

Abstract

Recent mood of reconciliation between the two Koreas as well as the two historic summits between Donald Trump and Kim Jong-Un over the denuclearization of the Korean Peninsula attracted worldwide attention. Despite growing security concerns in North Korea, studies on North Korea have often neglected the viewpoints of the North Korean regime and most studies analyzed from the viewpoints of South Korea and the United States. In this respect, we explore the alternative futures for North Korea and its economy from the perspective of North Korea and concludes that unification with South Korea may not be the preferred future of the North. To envision alternative futures for North Korea, we utilize the 'four generic alternative futures' of Manoa School at the University of Hawaii. Based on the four alternative futures, we suggest four strategies for the North Korean economy to achieve its preferred future.