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China, not US, likely to drive possible reforms in North Korea

China now represents more than 90 per cent of Pyongyang's trade, making it just about North Korea's only economic lifeline

Reuters  |  Seoul/Beijing 

U.S. President Donald Trump may have promised that North Korea will become "very rich" on the back of American investment if Pyongyang ditches nuclear weapons but economists and academics who have studied the isolated country say it is China, not the U.S. that will be the engine of any transformation. The nearest template would not be based on American-style capitalism, but China's state-controlled market economy first championed by Deng Xiaoping, who became China's leader in 1978, these experts said. China was just coming out of the turmoil of the 27-year ...

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First Published: Mon, June 11 2018. 10:41 IST