November 3, 2003

North Korea's economy collapsing

from The Straits Times

SEOUL -- Communist North Korea's economy is heading for collapse and could drag capitalist South Korea down with it, Standard and Poor's credit rating agency said on Monday.

'North Korea's economy cannot be sustained in its current state and we think it is highly likely to collapse,' said Choi Jung Tai, the agency's director for South Korea, adding: 'When is uncertain.'

Posted by DaveH at November 3, 2003 12:30 PM