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Why has the black market flourished in north korea?

User Virtualize
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Answer:

The black market has flourished in North Korea due to a combination of factors, including economic policies, political isolation, and the lack of basic necessities for the population.


One of the main reasons for the black market's growth is the state-controlled economy of North Korea, which has been in place since the country's founding in 1948. The government heavily regulates and restricts the economy, making it difficult for citizens to engage in legal economic activities or start their own businesses. This has led to a thriving underground market where people can buy and sell goods and services that are not available through official channels.

Additionally, North Korea is heavily sanctioned by the international community, which limits its ability to engage in legal trade with other countries. As a result, people have turned to the black market to obtain essential goods such as food, medicine, and fuel.


Furthermore, the political isolation of North Korea has made it difficult for the country to access the global market and technology. This has led to a scarcity of goods, and people have turned to the black market to obtain necessary items that they cannot acquire through official channels.

In conclusion, the black market in North Korea has thrived due to a combination of economic policies, political isolation, and scarcity of basic necessities.

User Faridul Khan
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