U.S. policy toward North Korea has been politically controversial, with some supporting engagement and negotiations, and others calling for isolating the regime on the basis that it cannot be trusted. Neither approach will work, according to Bluth, who explains that North Korea's foreign and security policy is the result of both internal and external threats to the survival of a regime that can no longer sustain itself. --
Crisis on the Korean Peninsula
Author: Michael O'Hanlon, Mike M. Mochizuki
Publisher: McGraw Hill Professional
"In describing their comprehensive proposal for negotiations with North Korea, O'Hanlon and Mochizuki exhibit the strategic creativity and analytical depth badly needed by United States policy makers dealing with this strange, dangerous place." --Ash Carter, former Assistant Secretary of Defense and Ford Foundation Professor of Science and International Affairs, John F. Kennedy School of Government, Harvard University IN EARLY 2002, in his fateful state of the union address, President Bush described North Korea as being a member of the "Axis of Evil." Since then, the U.S. has gone to war with Iraq, and the world now wonders what the future of Bush's preemption policy will bring. Many of the nation's top experts feel that North Korea is a more imminent threat than Saddam's Iraq was. They have a nuclear program, a million-man army, and missiles to deploy and export. In Crisis on the Korean Peninsula, Michael O'Hanlon, a Senior Fellow at Brooking and visiting lecturer at Princeton, and Mike Mochizuki, endowed chair in Japan-US Relations at G.W. University, not only examine this issue in detail but also offer a comprehensive blueprint for diffusing the crisis with North Korea. Their solution comes in the form of a "grand bargain" with North Korea. Accords could be negotiated step-by-step, however they need to be guided by a broad and ambitious vision that addresses not only the nuclear issue but also the conventional forces on the hyper-militarized peninsula and the ongoing decline of the North Korean economy.
The Korean Crisis
Author: Jack Van Der Slik
Publisher: Wildblue Press
The Korean Crisis tracks South Korea's climb to growth and democracy and North Korea's fall into tyranny and isolation. The US allies with South Korea for peace in Asia. China is pondering its bond to the nuclear armed North and its fickle leader, Kim Jong Un. This book depicts the threat to world peace in Korea today.
Jina Kim investigates how North Korea rationalized its pursuit of nuclear weapons programs for more than two decades, by exploring the dialectical development of the nuclear crisis and the obstacles generated by complex internal Korean dynamics and conflicting interests amongst the major players concerned.
Author: Mike Chinoy
Publisher: St. Martin's Press
When George W. Bush took office in 2001, North Korea's nuclear program was frozen and Kim Jong Il had signaled he was ready to negotiate. Today, North Korea possesses as many as ten nuclear warheads, and possibly the means to provide nuclear material to rogue states or terrorist groups. How did this happen? Drawing on more than two hundred interviews with key players in Washington, Seoul, Tokyo, and Beijing, including Colin Powell, John Bolton, and ex–Korean president Kim Dae-jung, as well as insights gained during fourteen trips to Pyongyang, Mike Chinoy takes readers behind the scenes of secret diplomatic meetings, disputed intelligence reports, and Washington turf battles as well as inside the mysterious world of North Korea. Meltdown provides a wealth of new material about a previously opaque series of events that eventually led the Bush administration to abandon confrontation and pursue negotiations, and explains how the diplomatic process collapsed and produced the crisis the Obama administration confronts today.
Author: Joel S. Wit, Daniel B. Poneman, Robert L. Gallucci
Publisher: Brookings Institution Press
A decade before being proclaimed part of the "axis of evil," North Korea raised alarms in Washington, Seoul, and Tokyo as the pace of its clandestine nuclear weapons program mounted. When confronted by evidence of its deception in 1993, Pyongyang abruptly announced its intention to become the first nation ever to withdraw from the Nuclear Non-Proliferation Treaty, defying its earlier commitments to submit its nuclear activities to full international inspections. U.S. intelligence had revealed evidence of a robust plutonium production program. Unconstrained, North Korea's nuclear factory would soon be capable of building about thirty Nagasaki-sized nuclear weapons annually. The resulting arsenal would directly threaten the security of the United States and its allies, while tempting cash-starved North Korea to export its deadly wares to America's most bitter adversaries. In Go ing Critical, three former U.S. officials who played key roles in the nuclear crisis trace the intense efforts that led North Korea to freeze—and pledge ultimately to dismantle—its dangerous plutonium production program under international inspection, while the storm clouds of a second Korean War gathered. Drawing on international government documents, memoranda, cables, and notes, the authors chronicle the complex web of diplomacy--from Seoul, Tokyo, and Beijing to Geneva, Moscow, and Vienna and back again—that led to the negotiation of the 1994 Agreed Framework intended to resolve this nuclear standoff. They also explore the challenge of weaving together the military, economic, and diplomatic instruments employed to persuade North Korea to accept significant constraints on its nuclear activities, while deterring rather than provoking a violent North Korean response. Some ten years after these intense negotiations, the Agreed Framework lies abandoned. North Korea claims to possess some nuclear weapons, while threatening to produce even more. The story of the 1994 confrontation provides important lessons for the United States as it grapples once again with a nuclear crisis on a peninsula that half a century ago claimed more than 50,000 American lives and today bristles with arms along the last frontier of the cold war: the De-Militarized Zone separating North and South Korea.
North Korea/South Korea
Author: John Feffer
Publisher: Seven Stories Press
The Korean peninsula, divided for more than fifty years, is stuck in a time warp. Millions of troops face one another along the Demilitarized Zone separating communist North Korea and capitalist South Korea. In the early 1990s and again in 2002-2003, the United States and its allies have gone to the brink of war with North Korea. Misinterpretations and misunderstandings are fueling the crisis. "There is no country of comparable significance concerning which so many people are ignorant," American anthropologist Cornelius Osgood said of Korea some time ago. This ignorance may soon have fatal consequences. North Korea, South Korea is a short, accessible book about the history and political complexites of the Korean peninsula, one that explores practical alternatives to the current US policy: alternatives that build on the remarkable and historic path of reconciliation that North and South embarked on in the 1990s and that point the way to eventual reunification.
China, Japan, Russia, and South Korea have struggled to navigate between the unsettling belligerence of North Korea and the often unilateral insistence of the United States on how to proceed. This book focuses on their strategic thinking and internal debates over four stages of the crisis.
Korean Crisis and Recovery
Author: David T. Coe, Se-Jik Kim
Publisher: International Monetary Fund
Edited by David T. Coe and Se-Jik Kim, this volume contains papers presented at a May 2001 conference in Seoul sponsored by the IMF and the Korea Institute for International Economic Policy on the Korean Crisis and Recovery. The papers examine the response to the 1997 crisis, its long-term impact on growth, and the state of financial and corporate sector reforms. Authors include academics, Korean policymakers, and IMF and World Bank staff involved in the Korean program.
Author: Donald Kirk
Donald Kirk explores the origins and effects of Korea’s economic crisis. He traces the events that constituted the crisis, including a series of scandals at the height of the Korean miracle; the efforts of President Kim Dae Jung to curb the overweening po
More than five years have passed since South Korea fell prey to the Asian financial crisis. Bringing together experts from Korea and a variety of other countries, this book aims to better understand the three stages of the Korean crisis: the onset, the policy reaction, and the economic response. Providing an integrated analysis of the event and its consequences, the chapters in the book consider the causes of the crisis, the response of the US government and International Monetary Fund, adjustments in the Korean monetary and fiscal policies, and the success of financial and corporate restructuring. The concluding chapters bring the story up-to-date, describing the aftermath of the crisis and assessing whether there has been sufficient reform to facilitate the country s recovery and growth. International and also Asian economists will find this a thoroughly accessible and illuminating book, as will specialists on Korea, political scientists and political economists.
The Korean crisis
Author: Inseok Shin
The objective of this paper is to provide a retrospective assessment of our ability to have predicted the impact of the 1997 crisis on the Korean corporate sector. We perform some simple stress tests on the aggregate balance sheets and income statements of the corporate sector to determine what could have been foreseen before the onset of the crisis. Our results show that data available in mid-1997 clearly showed that the corporate sector was very sensitive to various shocks, particularly interest rate shocks. Had stress tests been performed at the time, they would have revealed that the corporate sector was highly vulnerable to adverse economic developments. Our findings suggest that close surveillance of corporate sector balance sheets can play a useful role in understanding potential financial vulnerabilities.
Since the 2008 global financial crisis, policymakers as well as academicians have been seeking to fathom why subsequent recoveries remain tenuous. Other outstanding issues that they have been trying to understand include: why do some economies grow faster than others? How should the exchange rate volatility be understood and what factors make an economy more likely to fall into an exchange rate crisis? What policies need to be taken during tranquil periods, and how should they be changed once the crisis is triggered? As a partial effort to meet such interests, this book provides insights into these issues. This book examines growth and convergence (Part I), exchange rate volatility and the Asian crisis (Part II), and the global crisis (Part III). In addition, the book also draws lessons from South Korea's experiences - a country which has undergone three different crises and brisk recoveries (Part IV). The book also includes some practical and policy-oriented analysis. This is a truly comprehensive book bringing together varied topics and diversity under one common theme - economic growth and crisis.