What is the main reason economic development has largely failed in North Korea? View Available Hint(s)for Part A North Korea turned to export-led industrialization with disastrous results North Korea remained devoted to a state-led economy that rejected globalization North Korea is a landlocked state making trade with the outside world extremely difficult. North Korea took out huge loans from the World Bank and the IMF which it could not pay back. North Korean engaged in high-risk laissez-faire capitalism and was victimized by the 2008 global recession