[SUMMIT] China strives to participate in process of signing peace treaty

By Park Sae-jin Posted : June 11, 2018, 16:25 Updated : June 11, 2018, 16:25

[Xinhua / Yonhap Photo]


BEIJING -- With the two Koreas and the United States locked in a flurry of diplomacy, China has tried to keep its balance by standing closer to North Korea, but the situation is changing rapidly.

Beijing, which is on the verge of losing its stakes, is struggling to participate in the process of signing a peace treaty between Pyongyang and Washington.

"It is good for China to maintain the status quo by continuously exercising its influence on the Korean peninsula while the two Koreas are divided, but it will be a headache as North Korea and the U.S. are making progress in their talks," said a diplomatic source in Beijing. "The worst scenario for China is that North Korea loses its foothold on the Korean Peninsula due to the U.S."

Some experts predict a declaration of ending the status of war on the Korean peninsula will be made after the summit between U.S. President Donald Trump and North Korean leader Kim Jong-un. However, China is intentionally reducing its meaning by utilizing its state-run media.

China, a signatory of the armistice agreement, withdrew from the Military Armistice Commission in 1994 at the request of North Korea, after relations between Pyongyang and Beijing were soured by diplomatic ties between South Korea and China in 1992.

It's awkward China to suddenly step up efforts to participate in the process. Instead, China has strongly expressed its will to keep its stake on the peninsula by becoming a member signing the peace treaty.

China's state-run Global Times has said the declaration is not legally enough to replace the armistice and that China's participation will increase its stability. There is also the possibility that Washington will guarantee Kim's regime by signing a non-aggression treaty without going through a peace treaty.

After the summit, chances are high that North Korea will be closer to the U.S. for the time being. As Pyongyang has taken the risk of giving up its nuclear weapons in order to improve the economy, North Korea must closely see if Washington eases sanctions.

The key is when sanctions will be lifted. For its economic reform, North Korea needs massive foreign investments. Prerequisites for attracting investments is joining the International Monetary Fund (IMF). Only when the IMF opens its doors, it is eligible to join international banks. Improved relations are the key which would decide the success or failure of reform.

China has consistently sent signals to North Korea that it will actively provide economic support once the sanctions are lifted. Beijing even hinted that it would help North Korea by utilizing Asian Infrastructure Investment Bank. "As soon as the denuclearization issue is resolved, we are willing to invest in the railroad projects of North Korea, which is not a member," Jin Liqun, the president of AIIB, said earlier.

However, if North Korea makes a decision that goes against the core interests of China, relations can be soured. "From the standpoint of North Korea, China is the card which can be used to hold the U.S. in check and draw economic support," said Moon Il-hyun, a professor at the China University of Political Science and Law.
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