By Chae Il Chul

Pyongyang — The international community is now busy with moves to find a way-out of the worldwide financial crunch that started with the financial crisis in the U.S. and weather it. Facts suggest that the uni-polar system for dominating the financial world by the U.S. dollar is collapsing and there emerges a multi-polar era in the financial world.

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The above-said facts indicate that it is very important to strengthen the independence of national economy and develop economy on the basis of a correct economic theory, and the random introduction of foreign capital may render the national economy bankrupt.

The present situation where the financial crisis is developing into a worldwide economic crisis teaches a lot of lessons.

Firstly, the Western powers should immediately roll back their foreign policies for aggression as they wantonly violate the sovereignty of other countries and nations.

A currency of a specified country should not be regarded as a main currency but a multilateral currency system should be established and put into force.

What is also important is to prevent national economy from going bankrupt being embroiled in the vortex of “globalization.”

Another important lesson is that if a country opts for disorderly economic development based on a jungle law, without promoting economic progress based on a correct economic theory and science and technology, it may also suffer from another shocking economic crisis any time.

The international community is required to make a correct option, drawing a serious lesson from the worldwide financial crisis.

Source:
2008/12/18 KCNA
2008/12/17 KCNA (ko)
2008/12/17 Rodong Sinmun (ko)
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