The tension between the US and North Korea has escalated in the last three days with the North Korean regime threatening to bomb Guam island with intercontinental ballistic missiles Hwasong-12. US president Donald Trump answered to the threat by saying that retaliation will “come with fire and fury.”
North Korean officials responded by calling Trump’s threats “nonsenses” and him a “guy bereft of reason”. General Kim Rak Gyom, the leader of the missile command, said that the North Korean army is devising a plan that will allow it to hit the island of Guam, which hosts two large US military bases. North Korean officials were careful enough not to threaten the existence of the bases, but they stressed that missiles will fall in the waters around the Pacific island.
President Trump listened to the threats in his golf estate in New Jersey where he is having his summer vacations. Trump stressed that his first order as president was to renovate and modernise the country’s military arsenal which is now stronger and more powerful than ever before. The North Korean state-media said that the offensive against Guam would be an effective remedy for restraining the frantic moves of the US in the south of the Korean peninsula.
The bras de fer between the two nuclear powers continued with Donald Trump tweeting that the US, hopefully, won’t ever have to use its powers, but it will always be the most powerful nation in the globe. The US president, who leads the country for the last ten months, continued his tweeting with a cow boy style rhetoric saying that “military solutions are now in place, locked and loaded, should North Korea act unwisely.”
China, which has stood in the past, on the side of North Korea is not doing the same this time. Negotiations on a new trade deal between the biggest country in Asia and the US and recent accusations coming from Trump against the Chinese leadership, have forced the Chinese administration to have a neutral stance, unlike other times. The state-run newspaper Global Times, expressing the Chinese government’s opinion, wrote today that, in the event of an attack by North Korea against Guam, neutrality would be the best approach to the problem.
Stock markets went down for three straight days. FTSE in London, DAX in Frankfurt and Dow Jones in New York city dropped as investors sought for safe havens, such as the Japanese Yen and the Swiss Franc. The price of gold reached a two-month high and oil prices retreated. An ING economist described the newly ensued crisis as this generation’s missile crisis moment, making the comparison with the standoff between the US and the Soviet Union in the waters around Cuba, back in the 1960s.