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f economic reform is going to be successful over the long-term there are a number of challenges that must be addressed. For one, Kim Jong-un will need to continue to consolidate his grip on power. Social order will help him pursue his agenda effectively. Also, a conducive regional security environment will be crucial. North Korea will need to expand its trading partners beyond China, South Korea via Kaesong, and what other minimal trade it has. Normalized diplomatic relations with the United States and Japan are a must. Even if the nuclear issue is not resolved, US recognition of the DPRK’s right to exist as a state would go a long way to encouraging the expansion of trade in goods unrelated to nuclear sanctions which remain deeply affected by the embargoes. At present potential...