Donald Trump dangled the carrot of foreign investment in front of North Korean leader Kim Jong Un at their nuclear summit, but analysts say few will want to put money into one of the highest-risk business environments in the world. The U.S. president showed Kim a movie of bright lights, high-speed trains and soaring tower blocks - pitching a future that could be possible if Pyongyang gives up its weapons. Optimists say that with mineral wealth, cheap labour, and a helpful geographical location, the North has huge potential. But the history of overseas firms who have tried to set up operations in the isolated, impoverished country is a long and sorry one. Rules that can change on a whim, bills that are never paid, and the threat of expropriation hang over foreigners who step into the wildest of wild east investment destinations. For now, dozens of restrictions apply under the various sanctions regimes imposed on the North over its nuclear ambitions. Joint ventures are banned by the U.N. … [Read more...] about Invest in North Korea: money pit or golden opportunity?
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Trump, Kim agree on denuclearization, but deal seen symbolicThe Saigon Times Daily U.S. President Donald Trump speaks during a news conference after his meeting with North Korean leader Kim Jong Un at the Capella Hotel on Sentosa island in Singapore June 12, 2018 – PHOTO: REUTERS SINGAPORE (REUTERS) - U.S. President Donald Trump and North Korean leader Kim Jong Un pledged on Tuesday to work toward complete denuclearization of the Korean peninsula while Washington committed to provide security guarantees for its old enemy. The joint statement signed at the end of their historic summit in Singapore gave few details on how either goal would be achieved but Trump fleshed out some details at a news conference. "President Trump committed to provide security guarantees to the DPRK and Chairman Kim Jong Un reaffirmed his firm and unwavering commitment to complete denuclearization of the Korean Peninsula," said the statement. DPRK is the Democratic People's Republic of Korea, … [Read more...] about Trump, Kim agree on denuclearization, but deal seen symbolic
Trump says as summit ends that North Korea to denuclearize 'very, very quickly'The Saigon Times Daily U.S. President Donald Trump and North Korea's leader Kim Jong Un look at each others before signing documents that acknowledge the progress of the talks and pledge to keep momentum going, after their summit at the Capella Hotel on Sentosa island in Singapore June 12, 2018 - PHOTO: REUTERS SINGAPORE (REUTERS) - U.S. President Donald Trump and North Korean leader Kim Jong Un signed a “comprehensive” document following a historic summit aimed at the denuclearization of the Korean peninsula. There were mo immediate details on the contents of the document but Trump said he expected the denuclearization process to start “very, very quickly”. Although the breakthrough made at the summit marks just the start of a diplomatic process, it could bring lasting change to the security landscape of Northeast Asia, just as former U.S. President Richard Nixon visit to … [Read more...] about Trump says as summit ends that North Korea to denuclearize ‘very, very quickly’
Bringing the Korean War to a formal end 65 years after hostilities ceased will also be on the table at the first-ever meeting between a North Korean leader and a sitting president of its "imperialist enemy". It is an extraordinary turnaround from the tensions of last year, when Kim accelerated his weapons programmes -- earning the North more sets of UN Security Council sanctions -- and the two men traded personal insults and threats of war. But critics charge that the meeting risks being largely a triumph of style over substance. Kim arrived in Singapore on board an Air China 747 that, according to flight tracking website Flightradar24, took off from Pyongyang in the morning ostensibly bound for Beijing then changed its flight number in midair and headed south. He was driven into the city centre in a stretch Mercedes-Benz limousine accompanied by a convoy of more than 20 vehicles, and later met Singaporean Prime Minister Lee Hsien Loong, thanking him for hosting the event. "If the … [Read more...] about Trump, Kim arrive for US-North Korea summit
U.S. President Donald Trump on Thursday praised his relationship with Chinese President Xi Jinping as officials from the world’s two largest economies began trade talks in Beijing, while state media said China would stand up to U.S. bullying. A breakthrough deal to fundamentally change China’s economic policies is viewed as highly unlikely during the two days of talks, though a package of short-term Chinese measures could delay Washington’s decision to impose tariffs on about $50 billion worth of Chinese exports. The discussions, led by U.S. Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He, are expected to cover a wide range of U.S. complaints about China’s trade practices, from accusations of forced technology transfers to state subsidies for technology development. “Thrilled to be here. Thank you,” Mnuchin told Reuters at his hotel when asked if he expected progress. He made no other comments. As Mnuchin arrived, Trump tweeted: … [Read more...] about Trump praises China’s Xi as trade talks begin in Beijing