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EAI Smart Q&A
The Impact and Implication of the Economic Sanctions on North Korea
"China's Cooperation Holds the Key to the Effect of the Sanctions"
Stephan Haggard, University of California, San Diego
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As an effectively small open economy with an increasing dependence on China, North Korea may experience a sudden, severe financial crisis as a consequence of the current economic sanctions imposed by the UN, US and EU respectively, says Stephan Haggard, professor of political science at UCSD. However, he adds that the magnitude of the sanctionswill vary significantly with how rigorously China, and the Northeast provinces in particular, enforce the UN sanctions regime. In this regard, he suggests that South Korea and the US should make clear the ultimate goal of the sanctions and successfully convince it to the Chinese leadership.
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