Chinese investments in North Korea

A couple of years ago, when I asked a Chinese migrant entrepreneur in Cambodia what his next plan was, he said he was waiting for North Korea to open up: that was the next bonanza. According to a recent article in the newspaper Dongfang Zaobao, there are in fact already numerous Chinese investments in North Korea, mostly in mining, but also a bicycle and a tobacco factory. Some were arranged via high-ranking contacts by Chinese traders from the border areas who used to engage in smuggling before North Korea cracked down on it. According to the article, in 2006-07,ten mines were sold to Chinese companies, but in 2009, one of these was renationalised without compensation.

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One Response to Chinese investments in North Korea

  1. […] by Jane Perlez in Monday’s International Herald Tribune paints roughly the same picture as an earlier article in Dongfang Zaobao. This article focuses on the Xiyang Group, described as “one of the biggest mining […]

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