North Korean Money Shift Sparks Violence

New reports emerged Tuesday of protests and deadly violence in North Korea as the country's authoritarian regime over the past week seized most of its citizens' money and savings via a new-currency issue.

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Mr. Cochran said that the regime's money grab "could be the single most important event in defining North Korea over the next decade." He called it more significant than the headline-grabbing nuclear-weapons program, which North Korea uses for international influence, because the regime's power ultimately rests on its ability to make North Koreans believe that it controls their economic well-being.