World War 3: China on North Korea

World War 3: China on North Korea

China’s state agency Xinhua, Xi welcomed“new progress” achieved since Xi’s Mar-a-Lago visit, but that does not necessarily align Beijing with Washington’s strategy for the region.

On North Korea, Xi noted that Pyongyang has “violated UN Security Council resolutions” with its nuclear and missile tests over the past year. But, he said, “the international community should also increase efforts in promoting dialogue and controlling the situation.”

The US has insisted on the international isolation of Kim Jong-un, and has implored China, Pyongyang’s main ally, to put pressure on the regime to stop its weapons program.

According to North Korean media, the intercontinental ballistic missile launched by North Korea Thursday, reached an altitude of 2,802 km, and was theoretically capable of reaching Alaska. While the US and its allies assessed that an ICBM test indeed took place, the Russian military believes the tested projectile was likely a medium range missile.

Xi insisted that Washington and Beijing “respect each other’s core interests and major concerns, and properly address differences and sensitive issues,” a reference to the status Taiwan, the South China Sea dispute, the placement of US THAAD missile defense system in South Korea – to which Xi openly objected to in his statement – as well as Pyongyang’s potential nuclear capabilities.

But the Chinese leader “stressed that the two countries should stick to mutual respect and win-win cooperation, expand practical cooperation in various fields and strengthen coordination on international and regional issues.”

Among the other practical steps confirmed by China after the bilateral, was a planned exchange visit of defense ministers “as soon as possible” and joint military drills between the two navies in the 2018 Pacific Rim exercises.

Details of the meeting are sparse, but it most likely focused heavily on trade relations and the North Korean question. As in the leaders’ previous discussions in April, Pyongyang, which launched its most altitudinous-ever ballistic missile test earlier this week, dominated.

“I appreciate the things that you have done relative to the very substantial problem that we all face in North Korea, a problem that something has to be done about,” Trump told Xi in the full glare of the media.

“It may take longer than I’d like, it may take longer than you’d like. But there will be success in the end one way or the other,” said the US President.

 

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Shayne Heffernan Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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