ABSTRACT
In the Marxist interpretation of history, industrial capitalism develops into an even more degenerate stage, viz. ‘finance capitalism’. In addition there are several important multinational finance companies which, together with lending, have been active in providing various fringe banking services – negotiating loans on behalf of the Western and Eastern partners, leasing and facilitating other financial operations. Multinational corporations have also co-operated in other ways to alleviate the Socialist foreign exchange problem. In addition, multinational corporations have facilitated the marketing of Socialist products in capitalist countries through various input-output arrangements involving industrial co-operation and joint ventures. Multinational banks represent a large reservoir of convertible foreign exchange, and moreover have important connections with industrial and commercial interests throughout the capitalist world. North Korean foreign trade enterprises have sought Western credits for 2-3 years to finance the import of materials and equipment, and for up to 5 years in the case of larger projects.
