North Korea has rich people? Yes, they are the ones buying all the new cellphones. NK specialist Andrei Lankov wrote an article examining this rare new species for yesterday’s Asia Times (hat tip to NK Economy Watch for pointing out the story).
According to the article, “North Korea’s new rich made their fortunes amid the economic chaos and social disruption of the great famine of 1996-1999. This new bourgeoisie matured in the next decade as the North Korean economy started to partially recover from the disastrous 1990s.”
Continue reading North Korea’s Newly Rich Business/Entrepreneur Class