China's Wen urges North Korea to revamp economy

By REUTERS
August 18, 2012 08:06

SHANGHAI - Premier Wen Jiabao encouraged North Korea to allow "market mechanisms" help revamp its economy, state media said on Saturday, and laid down other pre-conditions as China tries to wean its impoverished ally off its dependence on Chinese aid.

Wen's comments followed his meeting with Jang Song-thaek, the powerful uncle of North Korean leader Kim Jong-un, in Beijing on Friday. Jang is the highest-profile North Korean official to visit China since Kim power in December 2011.As well as allowing freer rein to market forces, the Chinese premier also recommended Pyongyang encourage economic growth by improving laws and regulations, encouraging business investment and reforming its customs services


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