The Washington Post says North Korean leader Kim Jong-il’s rumored visit to China, if realized, could serve as an occasion for the reclusive country to change its economic policies.

The U.S. daily said in its Friday edition that Kim’s visit to China could result in the opening of North Korea’s shuttered economy and could help restart the six-party nuclear talks.

Noting Kim’s recent order to establish a state development bank that is tasked with attracting foreign investment, the paper said that such a move could signal a major reversal in the North Korean economic system that has remained isolated from the outside world for six decades.

The Washington Post noted the fact that Kim’s outreach to China comes at a time when pressure has sharply increased on his leadership amid rumors of his diminishing health and aggravating economic conditions in the communist country.

The paper added that South Korea and China remain skeptical about North Korea’s willingness to reform its banking and financial systems that will allow foreign companies to operate under standardized accounting rules.