News Summary: NKorean farmers have profits in mind

AP News
Posted: May 31, 2013 1:48 PM

INCENTIVE BONUSES: North Korean farmers have a new incentive during this year's crucial rice planting season: possible bonuses that are part of an economic shift echoing ally China's steps three decades ago toward embracing capitalism.

FREE-MARKET IDEAS: Foreign analysts say the moves to spur North Korea's moribund economy suggest Pyongyang is taking cues from Beijing on how to incorporate free market ideas within its rigid socialist system.

CHRONIC SHORTAGES: Impoverished North Korea suffers chronic food and power shortages and has not released economic data for decades. South Korea's central bank estimates the North's gross national income was $1,250 per person in 2011.