Experts say the lifting of economic sanctions could be used as a tool in this week's negotiations between the U.S. President Donald Trump and North Korean leader Kim Jong Un as they meet for their second summit.
When the leaders of the U.S. and North Korea meet, the reclusive leader Kim Jong Un will be after a badly-needed economic boom for his country, while the American President Donald Trump will be fixated on denuclearization. The lifting of economic sanctions could be used as a tool in this week's negotiations between the two as they meet in Hanoi, Vietnam for their second summit, experts say.
That could be a signal that Trump will use the easing of economic sanctions as a lever in this week's talks, said Anwita Basu, country risk service manager for Asia at the Economic Intelligent Unit's , who added that it would be something that North Korea will also push for.
North Korea currently faces a host of sanctions from the United Nations, as well as unilaterally from the U.S. While the UN bars some imports and exports, and freezes the assets of some individuals associated with Pyongyang's nuclear program, the U.S. further restricts the North Korean economy and targets individuals in the country.
Christopher Green, senior advisor of the Korean Peninsula at the International Crisis Group, said that North Korea isn't doing as badly as expected, but it isn't booming either.
But Verisk Maplecroft's Hribernik said he would take suggestions of Vietnam"with a hefty pinch of salt." "On paper, both Vietnam and China represent possible models, having developed market economies while retaining Communist Party rule," Hribernik wrote in a note.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump Kim summit: What does a win for North Korea look like in Hanoi?The stakes are high for Trump-Kim round two. Here are three theories on what Kim Jong Un might consider a win for North Korea:
Read more »
Where The U.S. Stands On North Korea Ahead Of The Trump-Kim SummitPresident Trump hopes to make progress in his meeting with North Korea's Kim Jong Un this week, but he has resisted pressure to set firm timelines for the regime to give up its nuclear weapons.
Read more »
Ahead of Trump-Kim summit, South Korean firms in Vietnam dream of return to North KoreaAhead of Trump-Kim summit, South Korean firms in Vietnam dream of return to North Korea by juminism Live TrumpKimSummit updates:
Read more »
Ahead of Trump-Kim summit, South Korean firms in Vietnam dream of return to North KoreaAhead of Trump-Kim summit, South Korean firms in Vietnam dream of return to North Korea via juminism Live TrumpKimSummit updates:
Read more »
Trump says there is 'AWESOME' economic potential for North Korea — if Kim abandons nukesU.S. President Donald Trump and North Korean leader Kim Jong Un are scheduled to meet in the Vietnamese capital city of Hanoi this week.
Read more »