North Korea: Capitalism is fading from history

SEOUL Tue Oct 18, 2011 3:42pm IST

A protester holds a North Korean flag, which protesters were stopped from burning by the police, at a rally denouncing North Korea in Seoul November 24, 2010.  REUTERS/Kim Kyung-Hoon/Files

A protester holds a North Korean flag, which protesters were stopped from burning by the police, at a rally denouncing North Korea in Seoul November 24, 2010.

Credit: Reuters/Kim Kyung-Hoon/Files

Related Topics

SEOUL (Reuters) - North Korea is feeling smug about its political system, gloating about how millions around the world have rallied in the biggest protests against capitalism in 300 years.

The world's most closed and secretive country, which officially ditched communism in favour of a military-first ideology in 2009, ran a story on Tuesday under the headline "Capitalism has no future" on its state-run news agency KCNA.

"The only way out of the present crisis facing the capitalist world is to root out its system. Capitalism is fading away from history as it exploits people and is forsaken by them."

It added: "It is impossible for the Western countries to get rid of the evil cycle of crisis as long as the capitalist market economy is left as it is."

KCNA has run a series of stories on the financial crisis which has gripped much of the world in recent months, and in a separate article applauded the "struggle of the working masses" in the weekend "Occupy Wall Street" protests around the world.

"The Occupy Wall St movement was an eruption of the exploited classes' pent-up wrath at the exploiters," it said, decribing the protests "as the biggest organised ever in history of capitalism spanning more than 300 years".

(Reporting by Jeremy Laurence; Editing by Ron Popeski)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Fighting the Islamic State

Students take part in a demonstration as one of them holds pictures of Iran's Supreme Leader Ayatollah Ali Khamenei (L) and founder of the Islamic Republic Ayatollah Ruhollah Khomeini outside the former U.S. embassy in Tehran November 4, 2010. REUTERS/Raheb Homavandi/Files

Iran supreme leader blames West for Islamic State rise, wants regional solution

Iranian Supreme Leader Ayatollah Ali Khamenei blamed Western powers on Tuesday for the rise of Islamic State (IS) insurgents in Iraq and Syria and said they had no business tampering with the region's geopolitics.  Full Article 

REUTERS SHOWCASE

HK Protests

HK Protests

Hong Kong protesters plan march after fruitless talks with government.  Full Article 

Double Murder

Double Murder

Thailand tourist murder suspects retract confessions.  Full Article 

Rousseff in Lead

Rousseff in Lead

Brazil's Rousseff pulls ahead of Neves before Sunday's election - poll.  Full Article 

Indonesia Cabinet

Indonesia Cabinet

Indonesia president to make new cabinet picks after 8 rejected.  Full Article 

Fighting Ebola

Fighting Ebola

J&J aims for 1 million Ebola vaccine doses in 2015.  Full Article 

Baghdad Bombing

Baghdad Bombing

Baghdad restaurant bombs kill 21  Full Article 

Canada On Alert

Canada On Alert

Canada raises terrorism threat level, cites Islamist chatter.  Full Article 

Foreign Threat?

Foreign Threat?

Sweden gets two new sightings, as hunt for undersea intruder goes on.  Full Article 

Iran Nuclear Talks

Iran Nuclear Talks

Exclusive: Iran offers "compromises" in nuclear talks, West unmoved  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage