Investors are bracing themselves this year for elections in all of “Fragile Five” countries and a number of other emerging nations that are adding political concerns to those economies already vulnerable to capital flight risks.
Perhaps a lesser-known political event that is coming up in 2014 is in North Korea, which will hold “elections” for its parliament on March 9.
The polls will elect members of the country’s rubber-stamping Supreme People’s Assembly for the first time since 2009 and also for the first time since Kim Jong-Un — the third generation of his family to rule the Stalinist state — took leadership in 2011.
The event is likely to offer fresh insight into the future power structure in the reclusive North as Kim is consolidating his power after he purged and executed his uncle Jang Song Thaek — one of the most powerful figures until a few weeks ago
The Supreme People’s Assembly, or parliament, is officially the North’s highest body of sovereign power that can revise the constitution, approve the budget and make appointments to top official positions, including the National Defense Commission.