Asia > Eastern Asia > China > Former Fed official Fisher: China could be the key to solving the North Korea crisis

China: Former Fed official Fisher: China could be the key to solving the North Korea crisis


Richard Fisher, the former Federal Reserve official and current top advisor at Barclays, said Friday he is looking for China to play a pivotal role in resolving problems on the Korean Peninsula.

Following North Korea's new missile launch before in the day, Fisher said the current U.S. government's strategy in getting nations to acknowledge on sanctions against North Korea was a "step in the right direction." He acknowledged, however, that recent steps taken by the international community were likely less severe than the White Home would've like.

President Donald Trump has used tough language against the North in recent months, most colorfully warning the hermit national it would be "met with fire and fury" if it continued to threaten the U.S. North Korea responded to those remarks by announcing that it was considering a strike on Guam, a U.S. territory. It from presently on stood down on the threat.

One key variable for the fate of the region's geopolitical crisis is the role China plays, said Fisher, a former Dallas Fed president.

"China's the key to success, everybody knows this," Fisher, who as well served as deputy U.S. Trade Representative between 1997 and 2001, told us on the sidelines of the Singapore Summit.

China is North Korea's major import source for oil and is its most significant ally. While Beijing urged North Korea to halt its nuclear development plans following the latter's sixth nuclear test on Sept. 3, the Trump government says it believes the world's second-major economy can do additional. U.S. Secretary of National Rex Tillerson this week asked China to use its economic leverage to put additional pressure on the North.

"To be equitable to China, they do not want U.S. forces on their southern border, so the solution's much additional complicated than, say, reunifying Germany," Fisher said.

Fisher said he believed a solution that would satisfy both China and the U.S. was one that would ensure "that space of North Korea" would be preserved while instantly taking North Korean leader Kim Jong Un "off the map." At the very least, Kim's nuclear power had to be taken out of the equation, Fisher added.

While negotiations would be "a very delicate process," U.S.-China relations were unlikely to unravel just because of North Korea, Fisher said.

"Our relationship is much broader than this," he added.

Related Articles
  • Chinese messaging app error sees n-word used in translation

    2017/10/14 Chinese messaging app WeChat has reportedly apologised next an AI error resulted in it translating a neutral Chinese phrase into the n-word .WeChat is blaming machine learning for erroneously converting a neutral phrase meaning ‘black foreigner’ into something far more offensive The WeChat error was reported by Shanghai-based theatre producer and actor Ann James, a black American. In a post on the service’s Twitter-like Moments feature, she wrote that it had translated hei laowai – a neutral phrase which literally means “black foreigner” – as the n-word. “We’re very sorry for the inappropriate translation,” a WeChat spokesperson told Chinese news site Sixth Tone. “Next receiving users’ feedback, we instantly fixed the problem.”
  • 5 charts that show how China is spending billions in foreign aid

    2017/10/14 China's foreign aid is sharply in focus this week with an unprecedented new data trove showing the country's growing global reach and detailing how Beijing spends its cash. In recent decades, the world's second largest economy has evolved from an aid recipient to a net aid donor. But a lack of official information on China's development activities had prevented the international community from understanding where and how the country spends its foreign aid. That's because the government considers its international development finance program to be a "state secret," according to AidData, a research lab at Virginia-based College of William & Mary.
  • Xi squeezing the life out of China’s media'

    2017/10/10 Everyone has their habits at the same time as they return to a favourite place. Landing in Guangzhou recently, my initial act — as always — was to seek out the new edition of Southern Weekend. It was formerly the vanguard of Chinese investigative journalism, exposing crooked officials, dodgy charities and official hypocrisy of all flavours. Its lead story would be an exposé, illustrated by a striking image. The 7 September edition was none of those things. A striking image did fill the front page, but it was of President Xi Jinping. The ‘chairman of everything’ is pictured striding across a marble floor, looking calm, composed and exhaustively pleased with himself as he prepares to address the media at the conclusion of the 9th BRICS Forum in Xiamen.
  • The Infrastructure Megaproject

    2017/10/03 The Infrastructure Megaproject To help simplify and increase cross-border trade, the top priority of BRI is infrastructure development While infrastructure development is focused on transportation, particularly railways inclunding highways and ports, it as well includes the telecommunications and energy sectors BRI projects will benefit infrastructure development specialists in China and around the world, create jobs for local people along the Belt and Road and help world distributors of a wide variety of goods reach new and existing markets faster
  • A single city in China built more skyscrapers last year than the US and Australia combined

    2017/10/03 China’s skyscraper craze reached another new high last year.