North Korea Economy: Japan Increasing Sanctions

Seoul, 6 Apr. In a bold display of power, technology, and defiance, North Korea launched a rocket over the weekend. The rocket crossed over Japan, threatening stability in the region. In response, Japan has introduced new sanctions to the impoverished, isolated nation.

A Japanese cabinet meeting later this week will convene, according to Prime Minister Taro Aso’s spokesman. In the meeting, sanctions are expected to be formally announced, he added.

Seoul, 6 Apr. In a bold display of power, technology, and defiance, North Korea launched a rocket over the weekend. The rocket crossed over Japan, threatening stability in the region. In response, Japan has introduced new sanctions to the impoverished, isolated nation.

A Japanese cabinet meeting later this week will convene, according to Prime Minister Taro Aso’s spokesman. In the meeting, sanctions are expected to be formally announced, he added.

Japan feels especially threatened by its bold North Korean neighbor, as it is so geographically close. North Korea has admitted to kidnapping Japanese citizens to teach its officials, including spies, the Japanese language and the Japanese culture. North Korea has also kidnapped South Koreans.

But North Korea says some of the Japanese have been returned and there is no longer an issue. Nevertheless, these economic sanctions will most likely occur, further hurting the poor nation whose people are impoverished and are in dire need of food and basic resources.

The rocket, according to the North Korean government, was merely a peaceful communications satellite, but most of the rest of the world sees it as a threat to the free world. It is now beaming down glorious, patriotic melodies to the North.

“The launch of this rocket was a way for North Korea to test the limits of its neighbors and the West. It was also an audacious show – even threat – of its potential. It sent a message to the world that it could launch a warhead anywhere in the region,” said Vladimir Gonzalez, EconomyWatch correspondent.

“Although a 2006 Security Council resolution explicitly prohibits North Korea from launching ballistic missiles, why is there a double standard? They’ve never attacked anybody but the US has and the US can do what it wants. No matter what, this launch serves as a new bargaining chip for North Korea,” Gonzales added.

“The United States’ view is, this is serious, it is a violation, and it merits an appropriately strong United Nations response,” said Susan Rice, the US Ambassador to the United Nations.

President Obama said, “With this provocative act, North Korea has ignored its international obligations, rejected unequivocal calls for restraint, and further isolated itself from the community of nations.”

“North Korea has a pathway to acceptance in the international community, but it will not find that acceptance unless it abandons its pursuit of weapons of mass destruction and abides by its international obligations and commitments,” Obama continued.

In the past, North Korea has rejected foreign aid. The UN and other international bodies have been providing food for about six million North Koreans. The country has a population of about 23 million.

Some analysts believe that North Korea feels that accepting aid makes them look weak, so it is unlikely they will be publicly begging for Japan’s help.

In the meantime, Russia and China, North Korea’s closest allies, urged restraint on all sides so as not to see an escalation.

Omar Park, EconomyWatch.com