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I guess this is one reason why South Korea is so eager to ensure that inter-Korean economic projects proceed - North Korea is well on the way to becoming a Chinese province.
A North Korean investment group and a Chinese bank will set up a 10 billion dollar fund to help Chinese firms build infrastructure…The deal was forged last week between the North’s Daepung Investment Group, based in Hong Kong, and China Development Bank…Daepung vice president Bae Kyeong-Hwan told the agency that the fund would help Chinese firms build roads, railways and ports…
Economic cooperation projects are on the top of the agenda in meetings between the Prime Ministers of South and North Korea currently underway in Seoul.
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2 responses so far ↓
1 Gre // Nov 16, 2007 at 10:09 pm
If the Korean people could ever find the courage and power to unite they would be an economic powerhouse. I think the is the main reason the US, Japan and China do not want reunification and fight it. If I can see this why can’t the Korean people and their leadership see it. S.Korea makes great products. If they could engage the N.KOrea labor pool it could dominate in many areas and help rebuild Iraq and Afghanistan better than the US.
2 Janus // Nov 24, 2007 at 6:42 am
I am pretty sure SECURITY, not economic concerns top all the reasons for aversion to Korean unification by all parties, except…South Korea, which seems to think that the economic costs of absorbing and modernizing the staggeringly decrepit North Korean economy would keep it off the short list of “economic powerhouse” for quite some time….
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