While China’s economy and finance markets are looking bold and strong, its Korean neighbor isn’t faring quite so well. The potential of the Middle Eastern mess is once again being blamed for the success and stagnation of the yuan and the won. Indeed, statistics showed a hit of 345.35 billion yuan (probably supported by short- and medium-term bonds). Meanwhile in North Korea the “dire economic situation” is so extreme that international food aid calls (which have likely lessened due to missile and nuclear programs) are becoming increasingly louder, apparently to no avail. On the one hand the country was blaming international pressure for their failure while simultaneously asking the world for charitable handouts. Despite its attractive-looking economy, China has not been dealing with the Middle Eastern mess so well, and instead psychologically ignoring its very existence, or running into a panic at the thought of what might entail.
China’s Success Mimics Korea’s Failure
So while the Chinese economy is going from strength to strength, the same can’t be said for Korea. This hasn’t always been the case. At one time, it was reported that South Korea was providing around 400,000 tons of rice each year to North Korea but once relations between the two started depleting around three years ago, this gift ended too.
Looking towards China though, things couldn’t be brighter. It seems that Yujiapu is set to be home to “the world’s largest financial zone a decade from now.” A set of twelve buildings are to be constructed marking just the “first phase” in this new financial world headquarter, really putting the rest of the region to shame. While their brothers in North Korea are looking for bread and water, the Chinese are enjoying festive banqueting.