Page 6 - Far Eastern Studies News Today

North Korean leader Kim Jong Un may be trying to roll back use of the dollar and yuan to tighten his grip on the economy, a move that could backfire

North Korean leader Kim Jong Un may be trying to roll back use of the dollar and yuan to tighten his grip on the economy, a move that could backfire

North Korean leader Kim Jong Un may be trying to roll back use of the dollar and yuan to tighten his grip on the economy, a move that could backfire

North Korean leader Kim Jong Un may be trying to roll back use of the dollar and yuan to tighten his grip on the economy, a move that could backfire

North Korean leader Kim Jong Un may be trying to roll back use of the dollar and yuan to tighten his grip on the economy, a move that could backfire

SEOUL, SOUTH KOREA (AP) – Before fleeing North Korea in 2014, Jeon Jae-hyun kept United States (US) dollars as a store of value and used Chinese yuan to make everyday purchases at markets, restaurants and other places. He used the domestic currency, the won, only occasionally. “There were not many places to use the won, […]

Koreas already-deteriorating relations with China seem to be going further downhill following Chinese Ambassador to Seoul Xing Haimings openly critical remarks about the Korean governments foreign policy. Analysts viewed that both countries should make efforts to prevent the latest diplomatic flare-up between Seoul and Beijing from deepening into friction in other fields such as the military and the economy.

Before fleeing North Korea in 2014, Jeon Jae-hyun kept U.S. dollars as a store of value and used Chinese yuan to make everyday purchases at markets, restaurants and other places. He used the domestic currency, the won, only occasionally.

North Korea has tolerated the widespread use of more stable foreign currencies like U.S. dollars and Chinese yuan since a bungled revaluation of the won in 2009...

North Korea has tolerated the widespread use of more stable foreign currencies like U.S. dollars and Chinese yuan since a bungled revaluation of the won in 2009...