Why is the latest North Korea’s missile launch so important?
North Korea’s latest missile launch, assessed by the observers to be the most dangerous one so far, has sparked serious reactions around the world. As the US talks of all options being on the table, there has been signs of the launch’s effects on the global markets.
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Tabnak – North Korea’s latest missile launch, assessed by the observers to be the most dangerous one so far, has sparked serious reactions around the world. As the US talks of all options being on the table, there has been signs of the launch’s effects on the global markets.
In a first, North Korea on Tuesday fired a midrange ballistic missile designed to carry a nuclear payload that flew over US ally Japan and splashed into the northern Pacific Ocean. ABC news believes that the launch over the territory of a close US ally sent a clear message of defiance as Washington and South Korea conduct war games nearby.
The missile was fired just before 6 a.m. in Japan, where the launch set off warnings in the northern part of the country urging people to seek shelter. Japanese Prime Minister Shinzo Abe denounced the launch, saying it represented a "most serious and grave" threat.
Also reacting to the missile lunch, US President Donald Trump warned that "all options are on the table,” according to a CNN report. "The world has received North Korea's latest message loud and clear," Trump said in a statement. "This regime has signaled its contempt for its neighbors, for all members of the United Nations, and for minimum standards of acceptable international behavior."
Meanwhile, the US ambassador to the UN’s forum on disarmament said North Korea’s missile test over Japan is of "great concern” but fits a "pattern” by the reclusive regime.
Robert Wood urged the international community to "speak out early and often” against such saber-rattling by Pyongyang. He was speaking ahead of a plenary meeting of the Conference on Disarmament, also attended by North Korea’s ambassador.
On the other hand, Reuters reports that world stocks tumbled and safe-haven assets soared on Tuesday after North Korea launched the missile, fueling worries of fresh tension between Washington and Pyongyang.
The risk-off move spread from Asia to Europe and a rally in the euro to above a key level chipped in to put regional stocks on track at one point for their biggest one-day loss in 11 months.
For example, the pan-European STOXX index fell as much as 1.7 percent to their lowest in six months before paring losses to trade down 1.3 percent, while Wall Street futures pointed to sharp losses at the open.
In an analysis, BBC writes that Tuesday's launch signals a very clear message from North Korea. "They want to make the point that they're going to go ahead with their missile program and their nuclear weapons programs unhindered by international pressure," Doug Paal from the Carnegie Endowment for International Peace told the BBC.
But it may be telling that the North chose to fire over Japan and not towards the US Pacific territory of Guam, something it had threatened to do earlier this month.
It should be noted that Tuesday's launch is the first time North Korea has successfully fired a ballistic missile over Japan. Various stages of launch vehicles have overflown Japan during Pyongyang’s attempts to launch satellites into space in 1998, 2009, 2012 and 2016.
This is the fourth missile North Korea has fired in four days -- Pyongyang tested three short-range ballistic missiles, one of which failed, from Kangwon province that landed in water off the Korean Peninsula.
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