Developing North Korea’s Economy amid Uncertain Geopolitical Situation

With negative growth of 3.5% in 2017, North Korea’s economy suffered its worst setback in a decade due to the effects of international economic sanctions. The Trump—Kim meeting on 12 June 2018 in Singapore raised hopes of lifting sanctions on North Korea and of bolstering North Korea’s economy. However, North Korea’s disagreement with the United States over its denuclearisation process and China—US competition in geopolitical interests in the Korean peninsula may overshadow its economic outlook.