Respecting the Real Economy and North Korea

In 2008, as the financial market grew excessively while the real market did not grow, the Western capitalist society faced a financial crisis. East Asia, which suffered the 1997 financial crisis, was able to avoid the financial crisis by preparing dollars in advance. On the other hand, it is said that China's real economy has played a role of buffering to some extent as it has grown rapidly.

 

Inflation occurs if the demand for goods is greater than the supply of goods and the value of money decreases. The relationship between the real economy and the financial economy is the same as the relationship between goods and money. When the capitalist economy is ripe and there is no room for development, the energy to expand the economy gathers in the financial sector. So a virtual growth area without substance is created. Bitcoin is a case in point. In the end, the capitalist economy, which has lost its growth engine, flows like Ponzi scheme.

 

So, if there is a real economy development somewhere in the global village, the whole world benefits. Even if the financial economy does not grow excessively, people around the world can enjoy the joy of growth. Tragic as it is, it is the same wherever there is war. War causes the real economy and gives no room for the financial economy to operate. The reality of the warring states is that they have to laugh together when they are happy and cry alone when they are sad. So there should be no war. Not only Ukraine but also Russia cried. Ukraine will expand the world's real economy by uniting national consciousness and developing very rapidly after the war.

 

If North Korea's economy is opened, so if the North's economy grows rapidly, not only North Korea but also the world will be able to enter an era of rapid growth. East Asia, Russia, and the United States, which have reserved a recession, have a good growth engine. Due to the current relationship of international power, North Korea, which grows mainly in the domestic economy like in the early days of Singapore's economic development, has much room to contribute to the world's economic growth someday.