A most unlikely meeting of rivals
Donald Trump took everyone by surprise by agreeing to talks with North Korea. Emily Hohler reports.
The "mentally deranged dotard" Donald Trump may have accepted an invitation to meet "Little Rocket Man" Kim Jong-un (as the pair have nicknamed each other in ill-tempered exchanges via the media), but there are already doubts as to whether the meeting will actually take place, says Toby Harnden in The Times.
Since Trump shocked his staff and allies across the world by abruptly agreeing to a meeting last Thursday, the hermit kingdom has remained "steadfastly silent", awakening concerns that Pyongyang may have been "insincere" or could "be playing psychological games", says Bryan Harris in the Financial Times. And if it does take place, it could be a major coup for Kim, providing the regime with a semblance of global legitimacy.
The meeting was announced by Chung Eui-yong, South Korea's national security adviser, who paid an unprecedented visit to North Korea's equivalent of the White House on 5 March, says Nathan Park in The Atlantic.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
There, Kim Jong-un reportedly made a "stunning array of concessions", including agreeing "in principle" to a nuclear-free Korean Peninsula and promising not to use nuclear or conventional weaponry against South Korea. Most significantly, he agreed to start talks with the US on denuclearisation, during which tests would be suspended.
Caught off guard
As usual, Trump's decision "seems to have caught his entire government off guard", says Paul Waldman in The Washington Post. Secretary of State Rex Tillerson (ousted from his post on Tuesday and replaced by CIA director Mike Pompeo) was reportedly "blindsided", having said only a few hours earlier that negotiations were a "long way" off. The chief envoy to North Korea has just retired, and the US doesn't even have an ambassador to South Korea. Leaving all that aside, putting our "mercurial" and "ill-informed" president across the table from Kim is a worrying prospect, says The New York Times.
Kim's strategy
Well "nothing else seems to be working", says Waldman, although it does seem highly unlikely that Kim will give up his nuclear weapons. The experiences of Saddam Hussein and Muammar Gaddafi, who were deposed and executed, have taught Kim that they "guarantee his power and even his life". Nevertheless, Kim is in a tight spot, says Roland Watson in the South China Morning Post. Kim may threaten America with "threats of annihilation" but he doesn't want to fight: that would spell his own annihilation too.
Meanwhile, the threat of starvation looms and a domestic uprising cannot be ruled out. His goal is for North Korea to become an "accepted dictatorship like China". Before Trump "he was stuck", but Trump "likes political dictatorships". "I wouldn't be surprised if Trump welcomes Kim" and is satisfied with a "meaningless promise" on denuclearisation. North Korea will start transitioning towards China's dictatorship model. And then the US "will not be safe".
The situation may not be so bad, says David Von Drehle in The Washington Post. Vladimir Putin is "champing at the bit" to build a gas pipeline through North Korea to supply "energy-hungry" South Korea. If talks with the US remove some of the most severe sanctions, the pipeline project is likely to be resurrected. With this "major strategic Russian asset running right through his country", Kim would have "enough insurance against a US attack" to "mothball his own nukes" and "shelter under the Russian umbrella". Further provocation gains Kim nothing. But now that he has his "nukes", he is in a position, potentially, to "turn the page".
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
Emily has worked as a journalist for more than thirty years and was formerly Assistant Editor of MoneyWeek, which she helped launch in 2000. Prior to this, she was Deputy Features Editor of The Times and a Commissioning Editor for The Independent on Sunday and The Daily Telegraph. She has written for most of the national newspapers including The Times, the Daily and Sunday Telegraph, The Evening Standard and The Daily Mail, She interviewed celebrities weekly for The Sunday Telegraph and wrote a regular column for The Evening Standard. As Political Editor of MoneyWeek, Emily has covered subjects from Brexit to the Gaza war.
Aside from her writing, Emily trained as Nutritional Therapist following her son's diagnosis with Type 1 diabetes in 2011 and now works as a practitioner for Nature Doc, offering one-to-one consultations and running workshops in Oxfordshire.
-
RICS: Housing market continues to strengthen but 2025 could be challenging
The latest survey by the Royal Institution of Chartered Surveyors reports a resilient UK housing market, but warns of headwinds next year
By Ruth Emery Published
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrency
According to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
By Chris Newlands Published