Bloomberg View columnist Barry Ritholtz looks at the people and ideas that shape markets, investing and business.
Africa is quickly becoming one of the business world's most supercharged areas, with a burgeoning startup scene, expansive infrastructure projects, and capital pouring in from across the world. In this series, Quicktake Originals takes an in-depth look at the domestic and international projects that are shaping modern Africa, and their implications for the global economy.
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Commuters ride a bus past the portraits of late North Korean leaders Kim Il Sung and Kim Jong Il, on Kim Il Sung square in Pyongyang.
Photographer: Ed Jones/AFP via Getty Images
North Korea’s economy shrank last year by the most since the peak of its 1990s famine, as international sanctions make it harder for Kim Jong Un to feed his people while developing nuclear weapons.
Gross domestic product contracted 4.1% in 2018, according to estimates from South Korea’s central bank. This marks the worst performance since 1997 when a series of droughts, floods and botched economic policies caused a deadly famine. GDP shrank 3.5% in 2017.