Dominating headlines about North Korea news are trying the patience of world leaders and frightening stock market investors. The world has gotten used to North Korea’s anti-social behavior, but recent acts have many saying the nuclear dictatorship has crossed the line. The nuclear-armed dictatorship that can’t feed its own people attacked and sank a South Korean ship in March. After an investigation into the sinking produced evidence pointing to North Korea, South Korea held navy war games in a show of strength. North Korea then pulled the plug on a hotline set up between the countries to prevent such flare-ups. Analysts grasping for an explanation believe North Korea’s recent provocations may have something to do with the succession of power.
The North Korea nuclear test
North Korea nuclear tests, which began in 2006, revealed a nation with leadership that would rather blackmail than borrow money to survive. The Washington Post reports that since President Obama took office, dictator Kim Jong-il has launched missiles, conducted a second North Korea nuclear test and seized a pair of U.S. journalists. Earlier this year 46 sailors died when the South Korean frigate Cheonan was torpedoed in South Korean waters by a submarine from the north. This week, when South Korea halted aid and trade to Pyongyang after evidence from the Cheonan sinking implicated the North, the North said it would sever relations with its neighbor. It seems likely that the South will seek additional sanctions from the U.N. Security Council, which will provoke more threatening behavior from North Korea.
Cheonan ship sinking
The Pyongyang regime’s recent spate of threats, culminating with the Cheonan ship sinking, has analysts speculating a transfer of power. It could be part of an effort by 69-year-old dictator Kim Jong-il, who recently had a stroke, to establish his 27-year-old son as his successor in the family dynasty. The New York Times reports that no other explanation makes sense. A reasonable person would believe that North Korea’s confrontational stance is delusional. Chances are Kim Jong-il thinks differently. A threat from the outside is what he needs to maintain the atmosphere of fear that keeps his dynasty in power. Kim Jong-il will like give Kim Jong-un credit for the Cheonan ship sinking to create the impression his son will be a strong leader of North Korea’s armed forces.
Conclusions about North Korea news
North Korea news-events perpetrated by an isolated secretive country, has always confounded the world. A succession of power as the reason for North Korea’s current tantrums is anyone’s guess. CNN contributor Fareed Zakaria said North Korea nuclear tests and other bad behavior could be considered simple blackmail – until the Cheosan sinking. Zakaria added that in the past, there has been considerable tension between South Korea and the United States on how to handle North Korea. With the Cheonan ship sinking, things are definitely not business as usual anymore. Knowing for sure the true motives driving the North Korean regime may never happen, but now the U.S. and South Korea agree that deeds, not words are the next step in the crisis.
North Korea stock market fear
The volatile stock market let North Korea tensions get the better of it this week. Traders ran for the exits when North Korea’s leaders warned the populace to prepare for total war. In an article about the North Korea stock market connection by MarketWatch, Andrew Wilkinson, senior market analyst at Interactive Brokers, said, “The words of the North Korean leader commanding his troops to be battle-ready are yet another excuse for markets to recoil once again.”
Additional information at these websites:
Washington Post reports
http://www.washingtonpost.com/wp-dyn/content/article/2010/05/26/AR2010052605047_2.html?wprss=rss_world/asia&sid=ST2010052502499
New York Times reports
http://www.nytimes.com/2010/05/28/world/asia/28north.html
CNN contributor Fareed Zakaria
http://edition.cnn.com/2010/OPINION/05/27/zakaria.korea.china/
