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On the Brink. Prospects for US-DPRK Settlement Dim Again

Published online by Cambridge University Press:  07 May 2025

Tim Beal
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Every time it looks as if US-DPRK negotiations are on the verge of a breakthrough someone in Washington throws a spanner in the works. This is what happened in 2005 as the Chinese were forcing through the Joint Statement of 19 September which seemed to put the negotiations, under the aegis of the Six Party Talks, on a course for a successful resolution. The US Treasury designated the Macau bank used by North Korean entities (and British companies and joint ventures in DPRK), Banco Delta Asia, as a “Primary Money Laundering Concern under USA PATRIOT Act”. Although the allegations were subsequently discredited, partly through the investigative reporting of the US chain McClatchy Newspapers, the action put the Six Party Talks in limbo for over a year, as well as having a serious impact on DPRK foreign trade, and hence on the economy itself, which reportedly shrank 1.1% in 2006. Negotiations between US Under Secretary of State Christopher Hill and DPRK Vice Minister Kim Kye-gwan resulted in a couple of agreements in 2007, one in February the other in October, which seemed to offer a way forward. These hopes have been dashed and prospects at the moment look dim.

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Research Article
Information
Asia-Pacific Journal , Volume 6 , Issue 5 , May 2008, e8
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Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-No Derivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
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Copyright © The Authors 2008

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