Price Measures Useless without Supply

first_img Facebook Twitter News AvatarNamgung Min SHARE South Korea’s Ministry of Unification has again reiterated that due to the failure of the currency redenomination, the North Korean authorities’ efforts to introduce more food and resume markets will face limitations unless they find a way to expand supplies.The Ministry’s report, “The Current North Korean Situation and Issues in Inter-Korean Relations,” submitted to the Diplomacy, Commerce and Unification Committee of the National Assembly, notes that current market prices and exchange rates have been tending downwards since the authorities got more food onto the market and strengthened price regulations in order to try and mitigate the side effects of the currency redenomination.”However, the report asserts, “For as long as supply capacity is not expanding, price regulations and other measures will be restricted. Therefore, North Korea may choose in the future to focus on attracting foreign investment from and economic cooperation with foreign countries.” As of now, mid-April, rice in North Korean markets is around 500-600 won per kilogram, which is a drastic drop compared to the price in mid-March. The dollar exchange rate is 600-700 won, dropping from more than 2,000 won in mid-March. The report also addresses North Korean propaganda targeting South Korea: denouncements of President Lee Myung Bak by name, which had been suspended since August last year, restarted on March 12 when President Lee’s commemorative speech at a ceremony marking Korean Independence Movement Day was heavily criticized, while the North continues to criticize South Korean high officials of all types. Regarding foreign relations, the report says North Korea has recently been attempting to highlight issues related to the U.S. in several cases, notably the North Korean Panmunjom Mission’s suggestion that U.S. soldiers’ remains in North Korean territory be recovered, the trial of an American citizen, Aijalon Mahli Gomes, and the North Korean Foreign Ministry statement about the Nuclear Posture Review and so on. Entire border patrol unit in North Hamgyong Province placed into quarantine following “paratyphoid” outbreak North Korea tries to accelerate building of walls and fences along border with China RELATED ARTICLESMORE FROM AUTHORcenter_img News News News Price Measures Useless without Supply By Namgung Min – 2010.04.13 2:44pm There are signs that North Korea is running into serious difficulties with its corn harvest last_img read more

Nationals ‘spare change’ transition fund won’t support coal jobs: Miners Union

first_imgNationals ‘spare change’ transition fund won’t support coal jobs: Miners Union Mining & Energy UnionThe $25 million a year ‘Royalties for Rejuvenation’ fund announced by Deputy Premier John Barilaro comes with no plan for jobs and is little more than spare change, the Miners’ Union said today.CFMEU Northern Mining and NSW Energy District President Peter Jordan said the transition fund would leave coal miners scratching their heads.“I’m bewildered by what the Nationals think $25 million a year spread across all NSW’s coal regions – from the Illawarra to Mudgee to Boggabri – will actually do for jobs,” said Mr Jordan.“Given the $1.6 billion in royalties this Government raked in from mining last year, $25 million is a piddling amount.“It’s not a treasure chest, it’s spare change. It’s a fraction of what they’ve just handed over to Shenhua for the Watermark mining lease debacle.“This is not a serious investment in coal communities and comes with no plan for the jobs coal workers are supposed to ‘transition’ into.“If this Government wants to support coal communities it should get behind the multiple existing coal mines around the state – employing workers and supporting coal communities right now – that are up against it trying to get extension plans approved.“Instead it has apparently established a fund for their closure.“Coal miners are sick of being used as photo opportunities for politicians who think they can be bought off with cheap and insulting thought bubbles like this.” /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Boggabri, coal, energy, Government, Illawarra, Investment, jobs, Jordan, mining, Mudgee, NSW, Premier, Presidentlast_img read more