This is vastly disappointing, even though, after the appointment of Bolton to the White House, it is not all that surprising.
A peace treaty with North Korea would be, or would have been, a great accomplishment. One hopes its negotiations will resume in the future.
Even if they do not, I expect that South Korea will continue to push forward with the peace process, much as Europe has decided to ignore the US in regards to Iran. Unfortunately, as the structure of sanctions and their enforcement hinges on the US Treasury department and its ability to unilaterally sanction foreign banks and companies, the US’s participation really is necessary. At the least, the treasury needs to be willing to look the other way.
This is why allowing the US to control the payments system has always been a bad idea. China and Russia have been doing what they can to create their own system, and I would say it is time for the world as a whole, ex-US, to do so. The US can’t be trusted. This has been true for some time–it didn’t start with Trump, but if Trump is the excuse needed to end the US’s ability to choose who can move money around, then seize it.
Europe will never be a real power, in any case, so long as it allows the US to set the rules and control their implementation. And every time a Trump, a Bush, or even an Obama (whose Treasury abused this power as well) rises, well, everyone will have to bow.
The hegemonic power is the, well, hegemon, but the US is in decline and in such a situation it behooves the US to pay attention to the concerns of its satrapies (and Europe, South Korea, Japan, Australia, and Canada are all core vassals).
This is especially true when dealing with vassals like South Korea who is under vast pressure from China (the rising super power), and has reasons both to abandon the US shield and to stay under it.
Trump is an opportunity. I suggest Europe and the Asian satrapies take it to free themselves.
And while they’re at it, make peace with North Korea.
Update: and it may be back on?
The results of the work I do, like this article, are free, but food isn’t, so if you value my work, please DONATE or SUBSCRIBE.