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China, S. Korea summit pushes North over nuclear weapons
by Staff Writers
Seoul (AFP) July 03, 2014

China, S. Korea to achieve N. Korea denuclearisation 'by all means': Park
Seoul (AFP) July 03, 2014 - China and South Korea agreed during summit talks Thursday to use "all means" possible to bring about the denuclearisation of North Korea, South Korean President Park Geun-Hye said.

The two countries also reaffirmed their stern opposition to any further nuclear tests by Pyongyang, Park told a joint press briefing after talks in Seoul with Chinese President Xi Jinping.

"In today's summit the two leaders agreed that the denuclearisation of North Korea should be realised by all means and agreed that (we) resolutely oppose a nuclear test," Park said.

In his statement after the meeting, Xi sounded a more moderate tone, stressing the need to resolve the North Korean nuclear issue through "dialogue and negotiation".

It was Xi's first trip as head of state to the perennially volatile Korean peninsula, and his second summit with Park, who visited China last year.

North Korean leader Kim Jong-Un is still waiting for an invitation to Beijing -- a calculated rebuff that speaks to the strained relationship between Pyongyang and its historic and most important ally.

China, S.Korea to complete free trade talks by year-end
Seoul (AFP) July 03, 2014 - China and South Korea agreed at summit talks Thursday to seek the early launch of a market to directly trade their currencies and complete free trade negotiations by the end of the year.

The agreement was contained in a joint communique endorsed by South Korean President Park Geun-Hye and her Chinese counterpart Xi Jinping at the end of their talks in Seoul.

The two leaders agreed to step up efforts for the completion of negotiations on a "comprehensive" free trade agreement (FTA) by the end of this year, the communique said.

The major Asian economies began FTA negotiations in 2012 but progress has been delayed by differences on the extent of market opening.

China is currently South Korea's largest export market and two-way trade stood at around $275 billion last year.

The joint communique said the two countries would strengthen efforts to launch direct trading in the won and the yuan.

Financial officials in Seoul believe such a market will help South Korea respond to the yuan's recent internationalisation, diversify settlement currencies and reduce its heavy reliance on the greenback.

A memorandum of understanding sealed by the central banks of the two countries called for designation of a qualified bank as a renminbi clearing bank.

China agreed to give South Korea Renminbi Qualified Foreign Institutional Investors status, allowing it to invest about 80 billion yuan ($12.8 billion) in Chinese stocks.

China and South Korea issued a joint call for the denuclearisation of the Korean peninsula at a summit in Seoul Thursday that was seen as a pointed snub of nuclear-armed North Korea by chief ally Beijing.

In a joint statement after their talks, the Chinese and South Korean presidents, Xi Jinping and Park Geun-Hye, reaffirmed their "firm opposition" to the development of nuclear weapons on the peninsula, but seemed divided on how best to persuade the North to give up its bombs.

While Park told reporters that the two sides had agreed to use "all means" possible to bring denuclearisation about, Xi stressed that "dialogue and negotiation" were the best way forward.

"There was certainly a difference in perspectives, but that has always been there," said Yang Moo-Jin, a professor at the University of North Korean Studies.

"South Korea might have liked Xi to say something more direct towards the North, but that was wishful thinking," Yang said.

If the joint statement marked no departure from established Chinese and South Korean policy towards North Korea, the fact that it was released at a summit in Seoul carried significant symbolic weight.

It was Xi's first trip as head of state to the perennially volatile Korean peninsula, and his second summit with Park, who visited China last year.

- A calculated rebuff -

North Korean leader Kim Jong-Un is still waiting for an invitation to Beijing and Xi's decision to visit Seoul before Pyongyang was seen as a calculated rebuff that spoke to the strained relationship between Pyongyang and its historic and most important ally.

"No previous Chinese leader has put South Korea before and above the North like this," said Aidan Foster-Carter, a Korea expert at Britain's Leeds University.

In what some saw as a display of pique at Xi's visit, North Korea had conducted a series of rocket and missile launches over the past week and pledged further tests in the future.

Seoul had been hoping that Thursday's joint statement would include a strongly-worded warning to Pyongyang, but analysts had forecast that Beijing was unlikely to up the rhetorical ante by any significant degree.

It made no mention of North Korea's nuclear tests, although in her comments afterwards Park said both sides had reaffirmed their "resolute opposition" to any further testing.

The statement did stress the importance of finding a way to get the long-stalled six-party talks on North Korea up and running again.

Beijing has pushed for a resumption of the six-party process -- involving the two Koreas, China, the United States, Japan and Russia.

But Seoul and Washington insist that Pyongyang must first make a tangible commitment to abandoning its nuclear weapons programme.

As the North's diplomatic protector and chief economic benefactor, China has repeatedly been pressured by the international community to use its leverage to rein in Pyongyang's nuclear ambitions.

- China wary of N. Korea collapse -

But while Beijing has become increasingly frustrated with the North's missile and nuclear tests, it remains wary of penalising the isolated state too heavily.

It is especially anxious to avoid any regime collapse that would result in a unified Korea with a US troop presence on its border.

Washington has played up Xi's two-day visit as evidence of Pyongyang's deepening diplomatic isolation.

"The symbolism of a visit by a Chinese leader to Seoul against the backdrop of tensions between North Korea and its neighbours... is pretty striking," US Assistant Secretary of State Daniel Russel told AFP.

But Pyongyang scored a diplomatic victory of its own Thursday, as Japan announced it was revoking some of its unilateral sanctions on North Korea after progress in talks on the Cold War kidnapping of Japanese nationals.

Japan and North Korea do not have formal diplomatic ties, and the announcement by Prime Minister Shinzo Abe is a significant step forward for a relationship that has been testy for decades.

The wider background to Xi's trip includes China's response to the US "pivot to Asia" and the battle between the two major powers for regional influence.

China is currently South Korea's largest export market and two-way trade stood at around $275 billion last year, but analysts say Beijing wants to move beyond economic ties and promote political and security links.

This leaves Seoul with a difficult balancing act, given its historic military alliance with the United States.

There are currently around 29,000 US troops stationed in South Korea, which is also protected by the US nuclear umbrella.


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