The Washington Post has carried an article on North Korea's experiment on capitalist economic reforms.

The paper said Sunday that almost two years into Pyongyang's experiment in market economy, the reforms have spread far more deeply and quickly than many had anticipated.

As an example, the daily cited the Gaesong Industrial Park, calling it the most profound example of the 22-month-old experiment to introduce the free market to one of communism's last frontiers.

The daily said that the move underscores mounting evidence that North Korea is undergoing its boldest attempt at economic reform since Kim Il-sung founded the Stalinist nation more than half a century ago.

In addition to the industrial park, the reports noted new steps to phase out the state's food rationing system, the rapid proliferation of deregulated markets, attempts to reform state-run factories into profit-based operations, and even the launch of a Web site selling "Made In North Korea" products over the Internet.

According to the report, since reforms went into place, North Korean trade with China jumped 38 percent to more than one billion dollars last year and trade with South Korea spiked 12 percent to some 720 million dollars.

As for prospects for success of the capitalist reforms, the report quoted observers with conflicting views. Some observers say the reforms are irreversible while others insist the North Korean leaders are not about to embrace a genuine modernization and are only seeking to stabilize the tattered economy to enhance their grip on power.