Word: seoul
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...much of its food. But as much as China fears that a nuclear-armed North Korea might prompt Beijing's key regional competitor, Japan, to go nuclear, it may currently fear the chaos brought on by the collapse of Kim Jong Il's regime even more. Beijing and Seoul are looking to resolve the crisis by reviving and tightening up the 1994 agreement under which North Korea undertook to refrain from developing nuclear weapons in exchange for economic aid. But the U.S. has shown little interest in reviving a failed agreement, and is insisting that the North Koreans agree...
...fear of the fallout, Seoul's favored unification formula is a glacial process of investment and economic exchanges that slowly develop the North's economy, leading to peace, then a common constitution and parliament, and ultimately formal unification. Even if the Kim regime suddenly collapses, the think tankers favor installing an interim government in Pyongyang until the North can catch up economically...
...Still, the South would clearly take an economic hit if North Korea were to collapse. Refugees might stream across the Demilitarized Zone, and Seoul would have to quickly provide aid to the Northerners in order to stem the tide while converting public buildings like schools into temporary shelters. Foreign investors might get spooked by the chaos and yank money from South Korea. Then there are the long-term problems of integrating the high-tech South Korean economy and the more primitive North Korean one. The new flood of cheap North Korean labor and land would potentially depress wages and property...
...some benefits from the start of a unification process, such as a "peace dividend" from reduced military expenditure. And all that cheap North Korean labor could make the South's companies more competitive. But, worries Thae Khwarg, chief executive of SEI Asset Korea, a fund-management firm in Seoul, South Koreans are terrified about unification because they haven't prepared for it by setting aside financial resources...
...nuclear program. Would it be any surprise if Iran and North Korea, the other two targets in the "axis of evil," are developing nukes of their own? If the U.S. is intent on spreading its insecurity around the world, that is what the world will become: insecure. Wonsun Ahn Seoul...