The handover of the boxes, draped in the blue and white flag of the United Nations, represents a modest diplomatic triumph for U.S. President Donald Trump from his June 12 summit with North Korean leader Kim Jong Un in Singapore that was aimed primarily at persuading North Korea to give up a nuclear weapons program that threatens the United States. “I want to thank Chairman Kim for keeping his word,” Trump said at a White House event, at which he hailed “great fallen heroes from America.” “We have many others coming. But I want to thank Chairman Kim in front of the media for fulfilling a promise that he made to me. And I’m sure that he will continue to fulfill that promise as they search and search and search,” Trump said. The transfer of the remains coincided with the 65th anniversary of the 1953 armistice that ended fighting between North Korean and Chinese forces and South Korean and U.S.-led forces under the U.N. Command. The two sides … [Read more...] about Trump thanks Kim as North Korea hands over Korean War remains
North korea currency
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?
U.S. President Donald Trump may have promised that North Korea will become “very rich” on the back of American investment if Pyongyang ditches nuclear weapons but economists and academics who have studied the isolated country say it is China not the U.S. that will be the engine of any transformation. The nearest template would not be based on American-style capitalism, but China’s state-controlled market economy first championed by Deng Xiaoping, who became China’s leader in 1978, these experts said. China was just coming out of the turmoil of the 27-year reign of Mao Zedong, a period during which capitalism was banned and private businesses and property were seized by the state and placed under collective ownership. Deng introduced wrenching reforms that are widely regarded as creating the foundations of China’s economic miracle in the past 40 years. The changes were massive, the growth phenomenal, but most importantly the Chinese Communist Party has … [Read more...] about North Korea seen looking to China, not US, for help in any economic transformation
The leaders of China, Japan and South Korea meet in Tokyo on Wednesday in a powerful gesture of solidarity against the backdrop of historic diplomatic moves by North Korea and a push for the isolated country to give up its nuclear weapons. Last held in Seoul in 2015, the three-way summit has regularly brought together the neighbors, but this week’s gathering comes amid an unusual period of calm for ties often beset by territorial and historical disputes. As U.S. President Donald Trump steps up trade pressure on China and Japan, the talks could provide an opportunity for improving regional unity, said Katsuhiko Nakamura, an official of a private think-tank in the Japanese capital. “It’s meaningful to show that there’s a united front like this in Asia, that there are different alliances in the world than those that have traditionally dominated,” said Nakamura, a deputy executive director of the Asia Pacific Forum. Japanese Prime Minister Shinzo Abe will also … [Read more...] about China, Japan and South Korea to highlight unity amid North Korea moves
President Donald Trump said on Tuesday the United States was engaged in direct talks at “extremely high levels” with North Korea to try to set up a summit between him and its leader, Kim Jong Un. Trump sowed some confusion by suggesting he had been speaking to Kim directly, but later clarified by saying: “Let’s leave it a little bit short of the highest level.” Spokeswoman Sarah Sanders added: “The president said the administration has had talks at the highest levels and added that they were not with him directly.” The president disclosed the direct talks as he and Japanese Prime Minister Shinzo Abe opened two days of talks at the president’s Mar-a-Lago retreat in Palm Beach, Florida. Reflecting the closeness of their ties, the meetings included a walk around the carefully manicured grounds of the beachfront club and dinner on the patio with their wives. A round of golf was planned for Wednesday. Trump said he believed there was a lot of … [Read more...] about Trump says US in ‘extremely high’ level talks with North Korea on summit