Peace with Kim – the least bad option
Accepting Kim Jong-un's offer for nuclear disarmament may be naive, but it's the best option on the table.
Kim Jong-un, the North Korean leader, has offered to "permanently dismantle" his country's main nuclear site, but only if the US reciprocates, possibly by declaring a formal end to the 1950-1953 Korean War, says Choe Sang-Hun in The New York Times.
He offered the concession during a three-day summit in Pyongyang with the South Korean president, Moon Jae-in. The leaders also agreed to open rail links and jointly bid for the 2032 summer Olympics, says Benjamin Haas in The Guardian. Kim added that he would visit Seoul; a first for a North Korean leader.
Kim's offer may not amount to much, says Richard Lloyd Parry in The Times. Yes, "the dismantling of a missile testing site in front of international inspectors would be spectacular" but Kim has his missiles and "doesn't need the site any more". His promises about the Yongbyon facilities are "similarly ambiguous".
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
Moon's embrace of Kim is causing "disquiet" within the US administration, among South Korean conservatives and in Japan, America's other ally, says Simon Denyer in The Washington Post. Moon's view is that it is "only by building trust" that Kim will be persuaded to denuclearise.
This contrasts sharply with the "maximum pressure" stance of the Trump administration, which is that Kim must take action before US largesse can "kick in". Moon's cheerleading efforts also "often sidestep the fact that Kim still leads the world's most repressive totalitarian regime".
Yet Trump, like Moon, also appears to be betting that the "corpulent dictator" is a reformist, says Gideon Rachman in the Financial Times. Last week he accepted an invitation to another summit with Kim, proclaiming on Twitter that they would "prove everyone wrong". Given the prospect of war between two nuclear-armed states just last year, it is no wonder that Moon is doing all he can. It may "be a nave, long-odds bet". But it is "preferable to the alternative."
Emily has extensive experience in the world of journalism. She has worked on MoneyWeek for more than 20 years as a former assistant editor and writer. Emily has previously worked on titles including The Times as a Deputy Features Editor, Commissioning Editor at The Independent Sunday Review, The Daily Telegraph, and she spent three years at women's lifestyle magazine Marie Claire as a features writer for three years, early on in her career.
On MoneyWeek, Emily’s coverage includes Brexit and global markets such as Russia and China. Aside from her writing, Emily is a Nutritional Therapist and she runs her own business called Root Branch Nutrition in Oxfordshire, where she offers consultations and workshops on nutrition and health.
-
Coventry Building Society bids £780m for Co-operative Bank - what could it mean for customers?
Coventry Building Society has put in an offer of £780 million to buy Co-operative Bank. When will the potential deal happen and what could it mean for customers?
By Vaishali Varu Published
-
Review: Three magnificent Beachcomber resorts in Mauritius
MoneyWeek Travel Ruth Emery explores the Indian Ocean island from Beachcomber resorts Shandrani, Trou aux Biches and Paradis
By Ruth Emery Published