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For the last several months, I have been the POSCO Visiting Fellow at the East-West Center; my thanks to both the Center and POSCO for their generosity and hospitality. While there, I gave a talk on a new book Marc Noland and I are finishing on engagement with North Korea. It discusses the concept of engagement, reviews North Korea’s external economic relations, provides some findings from our surveys of Chinese and South Korean firms doing business in North Korea, and circles back to the political economy of North Korea and the prospects for reform. I am joined in the Q and A by Marc Noland.