Asia & the Pacific

"While few observers take North Korea's threat of an all-out war seriously, many experts are concerned that the sinking of the Cheonan may be indicative of a North Korea that is emboldened by its perception of itself as a nuclear power that can now carry out limited strikes without fear of large-scale retaliation."

"Many in South Korea have already reached their own conclusion — the Cheonan incident is a stark reminder that North Korea remains a clear and present danger. A growing South Korean view is that more than a decade of nuclear drama, food shortages, starvation, borderline economic collapse, and currency reform debacles, followed by bailouts from progressive South Korean governments and the Communist Party of China has made the international community complacent about the direct military threat that North Korea poses. The Cheonan is a wake-up call."