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North Korea can choose to pursue Vietnam's economic model



The gradual path to Southeast Asia is particularly attractive to Kim, announced Fitch Solutions in the January report.

Vietnam began receiving assistance from the International Monetary Fund and the World Bank in the 1990s after the reforms began. This was followed by significant foreign investment in the mid-2000s and World Trade Organization membership in 2007. Kim is admirer of small reforms and prefers this slow approach to economic awards if he guarantees political stability. Vietnam has also maintained "geopolitical flexibility and relationship building" – two qualities that "are likely to be admired" by Pyongyang, Fitch added. For example, Hanoi enjoys close ties with Washington, despite the sharp ideological differences and decades of hostility during the Vietnam War. The Asian nation has also been able to cultivate its ties with many countries, including Korea, Russia, Japan and India. "have their disadvantages in the eyes of North Korean leader Kim Jong Un," Fitch said. Pyongyang wants to emphasize its independence from Beijing, not from obedience, while Singapore's path may be inappropriate due to its smaller size, Fitch continued. If Kim did his promise to get rid of nuclear weapons, the sanctions could be removed, paving the way for Pyongyang's foreign trade to resume. has put the North Korean economy on the path of steady growth and economic integration, Babson said.


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