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threat posed to international security by North Korea’s nuclear posturing will
not be resolved in a flashy manner – neither by an American military strike at Pyongyang’s
arsenal nor by Chinese economic pressure on its rogue ally. Instead, expect
three Far East nations – China, Japan and South Korea – to quietly adopt a
“managed crisis” approach, combining painstaking diplomacy with small-step
measures to build stability.
As China emerges as East Asia’s dominant power and the
unpredictable North Korean regime acquires offensive nuclear capability, nearby
Japan is taking further steps to relax its constitutional ban on maintaining
armed forces. Amending the constitution may not yet be in the cards, but beefing
up the country’s arms industry has already started.
President Vladimir Putin’s hopes and ambitions to see Russia return to take its place among the leading industrialised nations are fading fast as the country heads for recession. ‘Hard decisions’ need to be taken to rein in its spending and cut budgets, according to his Prime Minister Dmitry Medvedev. Russia is at a crossroads and it is the global price of oil wh...
Professor Stefan Hedlund