Friday, December 4, 2009

North Korea admits drastic currency reform, is silent on protests

http://www.csmonitor.com/World/Asia-Pacific/2009/1204/p06s07-woap.html

North Korea's elite – a narrow band of those close to leader Kim Jong-il and his inner circle of family members, top aides, senior members of the armed forces, the Workers' Party, and the government – are assumed to have large caches of foreign currency, dollars, euros, or Chinese yuan. And the vast majority of North Koreans have almost no money of their own. That leaves the middle class feeling the sting the most.

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