(3.6.2018) That would pave the way to tap the North’s vast mineral reserves, which could be worth $6 trillion, according to a 2013 estimate by the North Korea Resources Institute in Seoul. It’s also home to what might be the world’s single-biggest rare earth deposit, a crucial element for electronic car engines and many high-tech gadgets the South is so good at churning out.
„India has stepped up its focus on East Asia as well as ASEAN and any addition of an emerging market like North Korea will be most beneficial for the country’s expanding export-oriented industries,“ said a trade source.
India’s Act East Policy, that was introduced by the Modi government, focusses on the extended neighbourhood in the Asia-Pacific region.
Mr. Gapen believes the unemployment rate could sink as low as 3 percent by the end of 2019. That would bring it to levels last seen in 1953, the height of the economic boom after World War II.
The U.S. economy added 223,000 jobs in May as U.S. companies continued their hiring spree, according to the Labor Department’s monthly jobs report released Friday. The unemployment rate fell to 3.8 percent, the lowest since 2000.
The unemployment rate dipped to 3.8 percent in May, reaching an 18-year low. That’s encouraging, yet unemployment was lower right after World War II, when it fell as low as 2.5 percent in 1953. The 1960s also boasted several periods of lower unemployment.
He especially called for efforts to make sure the benefits of growth are broadly shared.
„Still, there are many areas where we came too short to say the people’s lives are improving,“ Moon said, noting the average income of households in the lower 20 percent bracket has in fact decreased despite the 3.7 percent increase in the average income of all households in the first quarter.
The Indian Minister of State for External Affairs Gen VK Singh made a surprise trip to North Korea earlier this week as India sought to revive its ties with the isolated country. The visit sent a good signal for the Asian economy.
Singh was the first Indian minister received by the North Korean government in the country in nearly two decades, which added to evidence that Pyongyang will be willing to seek better ties with the international community.
Moon Jae-in handed his North Korean counterpart a blueprint for economic integration at last month’s historic Panmunjom summit
The number of children in Japan has fallen for the 37th straight year in a row, a sign the country’s attempts to offset the country’s severely aging population are failing.
On the website of real estate agency jiwu.com, an article outlined a popular rumor that as North Korea reforms its economy Dandong might turn into another Shenzhen, the Chinese mainland boom city near Hong Kong. The article encouraged people to buy property while prices are low.
The volume of property deals is also reportedly increasing.
The move boosted hopes among local investors about easing of tensions on the Korean Peninsula, which have been cited as a key reason for undervalued local stocks over the past decades, dubbed the „Korea Discount.“
The measures could mark Kim’s strategic course correction after incremental global sanctions have crippled his country’s economy, eroded public support and loyalty from the elites, and fueled diplomatic friction with China, its key economic patron.
The announcement came ahead of Kim’s summits with South Korean President Moon Jae-in on April 27 and United States President Donald Trump in May or early June.