Top Asian News 5:51 a.m. GMT

'Dollarization' of North Korean economy, once vital, now potential threat to Kim's rule

SEOUL, South Korea (AP) — Before fleeing North Korea in 2014, Jeon Jae-hyun kept U.S. dollars as a store of value and used Chinese yuan to make everyday purchases at markets, restaurants and other places. He used the domestic currency, the won, only occasionally. “There were not many places to use the won, and we actually had little faith in our currency,” Jeon said during a recent interview in Seoul. “Even the quality of North Korean bills was awful as they often ripped when we put them in our pockets.” North Korea has tolerated the widespread use of more stable foreign currencies like U.S.