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Economic policy outlook_Apr2009, Issue 4

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Frame of Image e UN Security Council to discuss the provocative move and the possibility of further sanctions against the North Korean regime. The missile represents no added military threat to the South, which has long been within range of the North’s existing missiles and artillery. However, such an act of defiance will undoubtedly complicate multilateral efforts to restart the stalled six-party talks (involving North Korea, South Korea, the US, Russia, China and Japan) on the North's nuclear programme. It will also complicate South Korea’s efforts to draw North Korea back into bilateral dialogue. Co-ordinating a response to the test with South Korea’s main strategic ally, the US, will be easier given the successful visit in February of the new US secretary of state, Hillary Clinton, and her pledge that the US will not pursue engagement with North Korea without consulting the South. However, this assurance does not guarantee smooth relations with the US, with regard either to the North or to other matters. These issues include the transfer of wartime operational control of US forces in Korea to South Korea, which the previous centre-left government demanded but which Lee Myung-bak would like to delay. A major effort by the governments of both countries will also be required—at a time of economic crisis—to ensure that their respective legislatures ratify the bilateral free-trade agreement that was signed in 2007. Like his predecessors, Lee Myung-bak will seek better ties with Japan—a tas


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Title Economic policy outlook_Apr2009, Issue 4
Similar Titles
Material Type Articles
Date 2012
Language English
File Type Documents
Original Format pdf
Subject Economy < General