REGIONAL INTEGRATION IN EAST ASIA AND PERSPECTIVES FOR ECONOMIC TRANSFORMATION IN NORTH KOREA - LESSONS FROM EUROPE
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While the political situation on the Korean peninsula has worsened dramatically since October 2002 when North Korea admitted to running a nuclear weapons program, the careful opening process of the North Korean economy witnessed in the recent years nevertheless has continued, forced upon the country by the disastrous economic situation. This enhances the chances for a double integration of North Korea - namely, nationally, with the far more advanced South Korea, and regionally, into the nascent economic integration area of Northeast Asia. Both processes can reinforce each other, but can also be to some extent substitutes for each other. Especially in the case of an economic transformation process without farreaching political reforms, like in the case of China, regional integration seems more likely than national economic integra- tion. This paper analyzes the role of economic integration for the transformation process: In Eastern Europe, transformation preceded economic integration. In the case of Korea, economic integration can be seen as being parallel to transformation, or even anteceding it.
Abstract
While the political situation on the Korean peninsula has worsened dramatically since October 2002 when North Korea admitted to running a nuclear weapons program, the careful opening process of the North Korean economy witnessed in the recent years nevertheless has continued, forced upon the country by the disastrous economic situation. This enhances the chances for a double integration of North Korea - namely, nationally, with the far more advanced South Korea, and regionally, into the nascent economic integration area of Northeast Asia. Both processes can reinforce each other, but can also be to some extent substitutes for each other. Especially in the case of an economic transformation process without farreaching political reforms, like in the case of China, regional integration seems more likely than national economic integra- tion. This paper analyzes the role of economic integration for the transformation process: In Eastern Europe, transformation preceded economic integration. In the case of Korea, economic integration can be seen as being parallel to transformation, or even anteceding it.