North Korea Has an Industrial is Ed
2
North Korea has an industrialised, near- autarkic, highly centralized command economy . Of the five remaining Communist states in the world, North Korea is one of only two (along with Cuba) with an almost entirely government-planned, state-owned eco nomy. North Korea's isolation policy means that international trade is highly restricted. North Korea passed a law in 1984 allowing for foreign investment through joint ventures, [91] but failed to attract any significant investment. In 1991, it established the Rason Economic Special Zone , [92] in an attempt to attract foreign investment from China and Russia. Chinese and Russian companies have purchased r ights to use the ports at Rason. Chinese investors are renovating a road from Rason to China, [93] and Russian railway workers are reno vating the railway from Rason to Russia, from where it co ntinues onto the Trans-Siberian Railway . [94] Until 1998, the United Nations published HDI and GDP per capita figures for North Korea, which stood at a medium level of human development at 0.766 (ranked 75th) and a GDP per capita of $4,058. [95] The average salary is about $47 per month. [96] Despite substantial economic problems, quality of life is improving and wages are rising steadily. [97] Small-scale private markets, known as janmadang , exist throughout the country and provide the population with imported food and co mmodities ranging from cosmetics to motorcycles in exchange for money. [98][99] Food rations, housing, healthcare, and educat ion is offered from the state for free, [100] and the payment of taxes has been abolished since April 1, 1974. [101] In order to increase productivity from agriculture and industry, since the 1960s the North Korean government has introduced a number of management s ystems such as the Taean work system. [102] In the 21st century, North Korea's GDP growth has been slow but steady, a lthough in recent years, growth has gradua lly accelerated to 3.7% in 2008, the fastest pace in almost a decade, largely due to a sharp growth of 8.2% in the agricultural sector. [103] Generic paracetamol tablets made in the DPRK by a joint venture company Based on estimates in 2002, the dominant sector in the North Korean economy is industry (43.1%), followed by services (33.6%) and agriculture (23.3%). In 20 04, it was estimated that agriculture employed 37% o f the workforce while industry and services employed the remaining 63%. [6] Major industries include mili tary product s, machine building, electric power, chemicals, mining, metallurgy, textiles, food processing and to urism. In 2005, North Korea was ranked by the FAO as an estimated 10th in the production of fresh fruit [105] and as an estimated 19th in the production of apples. [106] It has substantial natural resources and is the world's 18th largest producer of iron and zinc, [107][108] having the 22nd largest coal reserves in the world. [109] It is also the 15th largest fluori te prod ucer [110] and 12th largest producer of copper and salt in Asia. [111][112] Other major natural resources in production include lead, tungsten, graphite, magnesite , gold, pyrites, fluorspar , and hydropower . [6]
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Transcript of North Korea Has an Industrial is Ed
8/8/2019 North Korea Has an Industrial is Ed
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North Korea has an industrialised, near-autarkic, highly centralized command economy. Of thefive remaining Communist states in the world, North Korea is one of only two (along with Cuba)with an almost entirely government-planned, state-owned economy.
North Korea's isolation policy means that international trade is highly restricted. North Korea
passed a law in 1984 allowing for foreign investment through joint ventures,
[91]
but failed toattract any significant investment. In 1991, it established the Rason Economic Special Zone,[92] in an attempt to attract foreign investment from China and Russia. Chinese and Russiancompanies have purchased rights to use the ports at Rason. Chinese investors are renovating aroad from Rason to China,[93] and Russian railway workers are renovating the railway fromRason to Russia, from where it continues onto the Trans-Siberian Railway.[94]
Until 1998, the United Nations published HDI and GDP per capita figures for North Korea,which stood at a medium level of human development at 0.766 (ranked 75th) and a GDP per capita of $4,058.[95] The average salary is about $47 per month.[96] Despite substantial economic problems, quality of life is improving and wages are rising steadily.[97] Small-scale private
markets, known as janmadang , exist throughout the country and provide the population withimported food and commodities ranging from cosmetics to motorcycles in exchange for money.[98][99]
Food rations, housing, healthcare, and educat ion is offered from the state for free,[100] and the payment of taxes has been abolished since April 1, 1974.[101] In order to increase productivityfrom agriculture and industry, since the 1960s the North Korean government has introduced anumber of management systems such as the Taean work system.[102] In the 21st century, NorthKorea's GDP growth has been slow but steady, although in recent years, growth has graduallyaccelerated to 3.7% in 2008, the fastest pace in almost a decade, largely due to a sharp growth of 8.2% in the agricultural sector.[103]
Generic paracetamol tablets made in the DPRK by a joint venture company
Based on estimates in 2002, the dominant sector in the North Korean economy is industry(43.1%), followed by services (33.6%) and agriculture (23.3%). In 2004, it was estimated thatagriculture employed 37% of the workforce while industry and services employed the remaining63%.
[6]Major industries include military products, machine building, electric power, chemicals,
mining, metallurgy, textiles, food processing and tourism.
In 2005, North Korea was ranked by the FAO as an estimated 10th in the production of freshfruit[105] and as an estimated 19th in the production of apples.[106] It has substantial naturalresources and is the world's 18th largest producer of iron and zinc,[107][108] having the 22ndlargest coal reserves in the world.
[109]It is also the 15th largest fluorite producer
[110]and 12th
largest producer of copper and salt in Asia.[111][112] Other major natural resources in productioninclude lead, tungsten, graphite, magnesite, gold, pyrites, fluorspar , and hydropower .[6]
