It seems utterly insane to anticipate such thing to happen in our lifetime, but why then online gambling sites in the UK offer UK-North Korea trade relations odds?
To simplify it for the non-economists, although the country is under sanctions for more than a decade, online sportsbook news in the UK have reportedly shown that more than 250 domestic and foreign companies exhibit goods in the Pyongyang capital. A minor part of these companies are in fact coming from either some countries in alliance with the US or from some European countries. So even if Kim Jong-Un’s regime is an evil one in the eyes of global media, when it comes to business no one cares too much about morality, right? With that rationale, could UK-North Korea trade relations odds happen anyhow?
North Korea trade with world
To break it down to you, the MIT respected Observatory of Economic Complexity (OEC) issued their interactive report in 2015, showing North Korea’s trade with the world to worth a total of $2.83 bn in exports and $3.47 bn in imports. You can see below in the chart that China is the biggest trading partner, along with India, Russia, Thailand and Philippines as other important partners.
(Source: Business Insider)
What is more interesting is that in 2016 the US ally in the Arabian Peninsula Saudi Arabia imported electricals worth $6 million, and Turkey imported petrol worth around the same $6 million from North Korea. In terms of North Korea’s imports, Germany sends medical supplies and food, and Switzerland sends milk to the most secretive and sanctioned country on earth. If Germany and Switzerland are comfortable trading with North Korea then why the UK will be against?
UK-North Korea trade relations odds
There has been a lot of hustle and bustle in online sportsbook news recently about a potential meeting in the upcoming weeks between US President Trump and North Korea’s Kim Jong-Un. If that meeting happens it will be the first in modern history, and if that meeting happens then you don’t have to be surprised that UK-North Korea trade relations odds could happen sooner or later.
One thing to keep in mind is that sanctions are correlated with the diplomatic game of denuclearization, and the other thing is that when Brexit is completed the UK will be already forging new trade agreements, and North Korea could be one of the new partners. If you are convinced with our rationale, then you should visit 1xBet Sportsbook to place a bet on a trade agreement to be signed between North Korea and the UK, with (41) odds.