The US is really increasing the pressure on Pyongyang during the latest six party talks. First the US stopped all food aid to the Stalinist country and now the US placed sanctions on a Macao based bank that was allegedly being used to funnel counterfeit US dollars printed in North Korea:
Washington last week declined to negotiate on the sanctions it imposed on the bank and on North Korean firms, mainly fueled by suspicions that the North counterfeited U.S. currency. North Korea in response called off a visit by its deputy foreign minister, Kim Kye-gwan, to New York.
On Friday night, North Korea’s foreign ministry said the U.S. must unfreeze the companies’ assets and lift the ban on transactions with the bank before the six-party talks can make progress. The official Rodong Sinmun newspaper the same day called the U.S. “the world’s worst human rights abuser.†It also slammed as a “fabrication†footage of a public execution in North Korea broadcast by cable channel CNN, according to the North’s official KCNA news agency.
The North Koreans are masters of nasty rhetoric, but something seems different this time. It seems like the US has finally struck a nerve with the North Koreans. This is good because it is increasing the bargaining position of the US.
The North Koreans have been getting away with counterfeiting US currency for to long. Have you ever wondered why the US $20 bill seems to change every year? It is because of the skilled North Korean counterfeiters. The next thing that can be done to further increase the pressure on the North Koreans is if the Japanese stop boat traffic between the two countries that is used to bring in hard currency to North Korea through the drug trade and other underworld activities. Finally the US is taking the kid gloves off, but there is still a lot more to do.
I like what US negotiator Christopher Hill had to say about this issue:
A few hours after the statements, the U.S. chief negotiator at the talks Christopher Hill told AP, “We can’t just sit there stalemated session after stalemated session.†He added, “I don’t want to threaten walkouts, but I do want to see progress.”
I’m sure Hill realizes this, but most of the countries involved in the talks want to keep things at a stalemate becauses the status quo is more acceptable to their own interests, that is why the US has to break the status quo and shake things up if the US hopes to see any progress.