Is this good??
Maybe..
This announcement is not a SMALL deal and has the potential to create a new Korea or destroy the country.
I suspect that South Koria has wrestled with the question for some time.
What to do with 25 million starving North Koreans, with no education nor infrastructure???
Back before Germany united, I work with a friend that lived in West Germany but had most of his relatives on the East side. He and I were both doing systems development and integration for corporate & government systems infrastructures. We spent a lot of our free time discussing this topic.
Germany spent many years planning on how to re-integrate the East. The major problem was that there was nobody in the East that had ever lived in a democracy. They were so ingrained in socialism, with the state running their lives, that they had no conception of how a free market society operated. The West knew they would need to continue the welfare state to support the East until they could be educated on capitalism. The West worked with all the large manufacturing companies to develop a plan to move education, jobs, and infrastructure to the East. They knew it would cost billions.
Germany is a good model for converting totalitarian states into a modern capitalist society, abet one that has a bit too much progressiveness.
With Korea?? Not sure how they will roll. I see China playing a large part and maybe Japan. The problem with North K is 5 fold what the Germans had to deal with.
Like Africa, the Middle East, Russia, South America, the Koreans peoples do not have a "history" of capitalism. It's going to be ruff. AND CHina's has set a bad model for the Asians.
Keep your finger crossed..
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