Hopefully we are not so deep into negative mood in the Pacific Rim that war is around the corner in Korea, but I don't subscribe to the Asian-Pacific Financial Forecast Service (sorry Mark!) and don't have a handle on the wave count there.Minister vows retaliation
By Jung Sung-ki, Staff Reporter, The Korea Times
Defense Minister Kim Tae-young said Sunday that retaliation over the sinking of the Cheonan must be carried out.
Kim's remarks came on the heels of Chief of Naval Operations Adm. Kim Sung-chan's reprisal pledge made during last week's funeral for the 46 dead sailors from the mysterious sinking of the frigate on March 26.
The Navy chief said, "We'll never forgive whoever inflicted this great pain on us. We will track them down to the end and we will, by all means, make them pay..."
A war could be locally devastating and possibly another hit to U.S. military prestige if we are unable to quickly repulse the North Korean Army. And, worse, if North Korea were perceived to have actually gained from a conflict (i.e. occupying part of Seoul, then giving it back after some "reparations" of some sort - a very low probability outcome I would think) then imagine what encouragement that would give to would-be warlords across the globe.