North Korea News Has Stock Market Scared Of Rogue Nuclear State
North Korea news is dominating the headlines, scaring stock market traders and trying the patience of world leaders. 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. The enigmatic nation is confounding analysts, whose latest guess about North Korea is that recent belligerence is part of a hand off of power from Kim Jong-il to his son Kim Jong-un.
Article Source: North Korea news about childish nuclear state tanks stock market
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 dictator Kim Jong-il has been challenging President Obama since he took office by launching missiles, conducing another nuclear test and kidnapping U.S. journalists. A North Korean submarine sank the Cheosan, a South Korean warship, as it sailed in friendly waters last month, killing 46 sailors. After the South cut off aid and commerce with the North this week, upon reviewing evidence implicating the North in the Cheonan sinking, the North suspended all ties with Seoul. 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. The attack may be part of a plan by aging strongman Kim Jong-il , a recent stroke victim, to hand over the reins to his 27-year-old heir. The New York Times reports that the succession theory fits in with the established North Korean behavior patterns. To rational minds, the North’s accelerating confrontation is self-defeating. But not to Kim Jong-il. His power depends on maintaining an “us versus them” environment unified in opposition to a foreign enemy. 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 about such an isolated country is conjecture most of the time. A succession of power as the reason for North Korea’s current tantrums is anyone’s guess. CNN contributor Fareed Zakaria said blackmail could be counted on as the rationale for such crimes as North Korea nuclear tests – until now. Zakaria went further to say that the days when South Korea and the U.S. differed on the North Korean issue may be over. Maintaining the status quo may not be possible anymore after the Cheonan sinking. Still confused, but united, South Korea and the U.S. are making it clear that their patience has finally run out.
North Korea stock market impact
North Korea’s stock market influence continued to be felt this week. When the North Korean government ordered its citizens and troops last week to be ready for combat, investors ran for cover. In comments about the North Korea stock market connection to 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.”
More information on this topic:
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/
The Korean War part1
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