Peterson Institute Policy Brief Stephan Haggard, Marcus Noland Number PB10-1 January 2010 On November 30, 2009, North Korea announced a reform to replace all currency in circulation with new bills and coins. North Korean officials have made no bones about their motivations: The “reform” constitutes a direct attack on the emerging market economy and the … Continue reading The Winter of Their Discontent: Pyongyang Attacks the Market