Economic Sanctions Against a Nuclear North Korea

United States economic sanctions against North Korea began on June 28, 1950, three days after the outbreak of the Korean War. Since then, the United States, its allies, and the United Nations have increasingly imposed economic sanctions against North Korea in an attempt to destabilize and manipulate the North Korean regime. This book first provides a thorough historical overview of U.S. and U.N. sanctions against North Korea since 1950. Then, several essays propose ways to make such sanctions more politically effective while limiting their harmful humanitarian consequences. Finally, the book discusses the impact of the newest, six-nation agreement signed in February 2007 which would shut down North Korea’s nuclear facility in return for economic aid and a security guarantee. Several appendices provide brief guides to the history of North Korea and the country’s nuclear weapons program.

Suk Hi Kim, a professor of international finance, is the coordinator of finance and international business at the University of Detroit Mercy. The author of North Korea at a Crossroads (McFarland, 2003) and Global Corporate Finance, 6th Edition (2006), he is the editor of North Korean Review and the founding editor of Multinational Business Review. He lives in Plymouth, Michigan.

Semoon Chang is a columnist for the Korea Times and the author and editor of several books. He is a professor of economics and director of the Center for Business and Economic Research at the University of South Alabama in Mobile, Alabama.

Edited by Suk Hi Kim and Semoon Chang

Format: softcover (6 x 9)
Pages: 216
Bibliographic Info: references, appendices, notes, index
Copyright Date: 2007
pISBN: 978-0-7864-3231-8
eISBN: 978-0-7864-5139-5
Imprint: McFarland

Preface      1

1. North Korea: Yesterday, Today, and Tomorrow      5
2. A Chronology of U.S. Sanctions Against North Korea      34
3. Lessons from U.S. Economic Sanctions Against Cuba      56
4. The Effectiveness of Economic Sanctions Against North Korea      73
5. New Economic Sanctions Against a Nuclear North Korea and Policy Options      103
6. Economic Sanctions, North Korean Famine, and Humanitarian Assistance      127
7. North Korea’s Continuing Survival: Confucianism and Self-Reliance      149
8. Economic Sanctions and North Korea’s Trade Deficit      157
9. The Denuclearization Agreement of 2007 and Economic Sanctions      178

Appendix A: A Brief Chronology of North Korean History      193
Appendix B: Key Facts About North Korea      197
Appendix C: A Chronology of North Korea’s Nuclear Weapons Program      199
Appendix D: Popular Web Sites About North Korea      203

Index      207

• “careful and detailed analysis…useful to anyone who wants to better understand an important part of relations between the US and North Korea”—Pacific Affairs
• “a timely new book”—Bernhard Seliger, North Korean Review