North Korea Potential

North Korea is one third the size of Vietnam in population land area and Nominal GDP, but Vietnam is growing their economy at twice the rate with low unemployment.

Trump is encouraging North Korea to open up to economic development to increase productivity, raise per capita GDP and lower unemployment.  He is using Vietnam as an example of this economic development.  By expanding exports beyond China, North Korea could become more productive and more viable to improve living standards for their citizens.

North Korea is normalizing relations with South Korea and North Korea’s Chairman Kim is engaged in meetings with Trump on shifting from nuclear weapons development to economic development. North Korea could shift its focus to nuclear energy development, but the US wants North Korea to remove their nuclear weapons capability. This is possible, but may take time to develop a viable plan.

Nominal per capita GDP in North Korea is $1,300 compared to Vietnam at $2.860, both are communist countries.

Comparisons with non-communist countries are startling. Nominal per capita GDP in Taiwan is $25,534 and South Korea is $32,774 and Japan is $41,534.

China is North Korea’s primary trading partner at 90%. It has been isolated.

Japan, Taiwan and South Korea were sponsored by the US to develop their current economies. After 1945, the US shepherded the economic development of these countries.

Norb Leahy, Dunwoody GA Tea Party Leader