Word: koreanized
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...been throughout the world, from North Korean souvenir shops to Ethiopian bazaars, for the past six decades. Government officials measure the health of national economies by how many dollars are stashed away in their central-bank vaults. The international prices of everything from crude oil to cocoa beans are denominated in dollars. The dollar is a universal medium of exchange because it is liquid, readily available and backed by the largest economy in the world. There has been little reason for global commerce to function any other way. (See pictures of the global financial crisis...
...While the North Korean test is disheartening, we are encouraged to see that the United States’ alliances with Japan and South Korea remain strong. Even more importantly, this crisis has seen Japanese and South Korean leaders unite to make a strong statement on the continued unacceptability of the North Korean nuclear program. Given the historical animosity between the two countries, it is important that these relationships remain strong for the continued stability of the region during the twenty-first century...
...launch complicates that diplomacy. Tokyo in particular is furious at Pyongyang - it had earlier in the week threatened to shoot the missile down - and immediately after the launch asked for an emergency session of the U.N. Security Council to take place on Sunday. Both Tokyo and the South Korean government believe the rocket launch was an explicit violation of a 2006 U.N. resolution that insisted the North "not conduct any further nuclear test or launch of a ballistic missile." But North Korea insists it has the right to place communications satellites into orbit, and the U.S. military on Sunday confirmed...
...sources in Seoul late last week acknowledged that neither China nor Russia - both permanent members of the Security Council - will agree to further sanctions. "The best [Seoul and Tokyo] can hope for is a statement from the Security Council that condemns the test," says Chol Jinwook, director of North Korean Studies at the Korean Institute for National Unification. (See pictures of the New York Philharmonic's performance in Pyongyang...
...opening gambit to test a new administration in Washington, Pyongyang is being typically audacious. The North Korean government probably noted with interest that in its immediate reaction, the White House insisted that the North "abandon the development of weapons of mass destruction." It said nothing about destroying the small arsenal of nuclear weapons the North already possesses. Analysts in Seoul wondered whether that was deliberate - a signal that Washington not only still wanted to talk, but that it might be flexible about how the North can stand down its weapons program. Because at some point, new talks, despite the launch...