North Korea’s economic situation is facing exceptional challenges after the government imposed strict virus-containing measures in response to COVID-19. Since late January 2020, the border with China has been officially closed, causing trade between both countries to plummet to record lows. With winter quickly approaching, many North Koreans are fearing the worst.
The Fifth Plenary Session (‘Fifth Plenum’) of the 19th Central Committee of the Communist Party of China concluded on 29 October and sent a strong signal that China will continue to focus on the quality rather than the speed of economic growth. ‘Quality’ economic growth should be broad-based and inclusive.