Asia & the Pacific

"Belfer Center Newsmakers" highlights members of the Belfer Center community who have been featured recently in the news.

Last week, President Trump signed a new executive order that paves the way to impose sanctions against any foreign bank that conducts business with North Korea, going well beyond current UN financial sanctions. These so-called secondary sanctions, which are penalties applied to third-party foreign banks (i.e., not directly against North Korean entities), are particularly focused on Chinese banks.

America’s top priority must be to avoid a second Korean war. Yet such a war is closer than ever and appears almost inevitable unless America changes the approach President Trump has been using since he took office. The greatest risk of war with North Korea is not sudden action by Kim Jong Un, but Kim responding to a perceived attack by Trump. North Korea foreign minister Ri Yong-ho drove that home Monday when he called Trump’s threats against his country “a clear declaration of war.”

The United States has been in a technical state of war with North Korea since the end of the Korean War in 1953. Every president since Dwight D. Eisenhower has had to navigate the risk of conflict with North Korea. What’s new is Trump’s bombastic approach to this long-standing challenge — his personal insults, crazy tweets and threat at the United Nations to "totally destroy North Korea."

The dramatic fall of oil prices is set to jeopardize both the U.S. ambition to become a big gas exporter by the end of this decade and the long-awaited development of a global gas market.

"An ambitious deal might also stimulate more demand for innovations in clean technologies, in which China is emerging as a global leader. But because of the UN's decision-making process, in which all its members have to agree on a new deal, Xi Jinping is in the powerful position of being able to commit to only as much emission reductions as fit his domestic policy agenda."