Kim steps up war of words

The war of words hots up as North Korea goes face-to-face with America. Matthew Partridge reports.

857-Kim-634

Kim Jong-un: contemplating the nightmare scenario
(Image credit: Copyright (c) 2017 Rex Features. No use without permission.)

North Korea threatened to attack the US Pacific territory of Guam just hours after President Trump warned it of "fire and fury like the world has never seen" if threats from Pyongyang continued.

"While Washington's next steps are not crystal clear, it looks increasingly likely that the two-decades-long US policy of strategic patience' towards Pyongyang may now be over with all options on the table," says Andrew Hammond on Independent.co.uk. These "range from a new round of peace talks at the dovish end of the spectrum to more hawkish actions like interdicting ships suspected of selling North Korean weapons abroad, one of the regime's key sources of income".

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

However, the international community is particularly concerned that Trump's rhetoric suggests that he "might now be thinking, much more seriously, about a pre-emptive strike on Pyongyang's nuclear capabilities".But if Kim concludes that the US is indeed poised to attack his regime, he will be tempted to attack first, according to Gideon Rachman in the Financial Times. This is because "North Korea's military doctrine, as expressed in recent exercises, envisages the first use of nuclear weapons to ward off defeat or destruction". As well as Guam, North Korean nuclear missiles "could hit South Korea or Japan".

Given North Korea's military capacity, a US first strike would be "reckless", says The Economist. But diplomacy on its own is "insufficient". Remember that in 1994 President Bill Clinton secured a deal "whereby Kim Jong-il (the current despot's father) agreed to stop producing the raw material for nuclear bombs in return for a huge injection of aid". However, Kim took the help but "immediately started cheating".

While Trump needs to make clear that "America is not about to start a war, nuclear or conventional", he also needs to state that "a nuclear attack by North Korea on America or one of its allies will immediately be matched". Whatever happens next, concludes Jacob Heilbrunn on Spectator.co.uk, "at a moment when even Washington's neocon hawks are counselling caution, it's hard not to have a bad case of the collywobbles".

Dr Matthew Partridge
MoneyWeek Shares editor