29 April 2017 | Last updated 11:47 PM


 
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North Korea adds to escalation of tension; World markets may react
Rohit Chandavarkar | Saturday, 15 April 2017 AT 09:49 PM IST
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Suddenly the world seems to be on the brink. International news channels and publications have now started reporting constantly about the military movements of the superpowers more than ever before.

American military’s use of the so called mother of all bombs (MOAB) in Afghanistan has now reportedly killed over 90 people and the US claims all were hardcore IS terrorists. Just a few days before, the US launched over 60 satellite guided precision programmed Tomahawk missiles on Syrian targets from naval ships in the Mediterranean sea and on Saturday the headlines were dominated by the Korean military’s exhibition of some of the most deadliest missiles, which were not seen earlier by the world.

CNN said North Korea has put its adversaries on notice, when it showed off a bevy of new missiles and launchers at its annual military parade. Pyongyang showed off two new intercontinental ballistic missile (ICBMs)-sized canisters as well as displayed its submarine-launched ballistic missile and a land-based version of the same for the first time, according to analysts. If North Korea has ICBMs, they could give it the ability to strike targets in the mainland US and Europe. Meanwhile, the shorter range ballistic missiles, displayed on Saturday, are a threat to countries in the Asian region.

North Korea’s display comes as tensions on the Korean Peninsula have spiked to alarming levels as US sent a strike group led by U.S.S Carl Vinson to the region last weekend, and US President Donald Trump has been tweeting this week that if China can’t rein in North Korea’s nuclear programme, the US will.

“The Vinson was sent out to make a statement. North Korea responded by showing off the most new missile hardware we’ve ever seen in a parade before,” according to a senior research associate working at the James Martin Center for Nonproliferation Studies in California, said CNN.

One of the biggest surprises of Saturday’s military parade in Pyongyang was two mobile canisters that could contain ICBMs larger than anything North Korea has ever produced.

It certainly appears to be a message to the United States that they’re capable of threatening the US homeland. That’s certainly their objective,” Adam Mount, senior fellow at the Center for American Progress, told CNN. Hanham said other land and submarine-launched ballistic missiles were shown in public for the first time on Saturday. The land-based version is known as the KN-15, while Pyongyang’s submarine-launched weapon is known as the KN-11 missile. North Korea has under 500 miles of paved roads, Panda wrote, and previous wheeled-launchers could risk damage to the missile operating off those. Despite all the displays on Saturday, analysts cautioned against overreaction, noting that North Korea’s missile tests have had a checkered record of success, and adding that a missile in a parade does not necessarily mean it’s operational.

It is expected that the world markets will react to these rising tensions on Monday. Markets all over the world had a long weekend (because of Good Friday / Easter Sunday). The first thing expected on Monday is world market’s reactions to the panic that has set in on some regions. Experts and analysts say the world leaders must communicate and douse this rising tension in everybody’s economic interest. If the perception is not changed in time, it could be damaging for all the economies.
 
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