In this photo provided by the North Korean government, North Korean leader Kim Jong Un speaks during a Workers' Party meeting in Pyongyang, North Korea, Friday, June 18, 2021. Kim ordered his government to be prepared for both dialogue and confrontation with the Biden administration — but more for confrontation — state media reported Friday, days after the United States and others urged the North to abandon its nuclear program and return to talks. Independent journalists were not given access to cover the event depicted in this image distributed by the North Korean government. The content of this image is as provided and cannot be independently verified. (Korean Central News Agency/Korea News Service via AP)
SEOUL, South Korea (AP) — North Korean leader Kim Jong Un “solemnly swore” to navigate his country out of deepening economic troubles as he concluded a major ruling party meeting, acknowledging food shortages and urging officials to prepare for both dialogue and confrontation with the U.S.
North Korea’s state media released Kim’s comments shortly before President Joe Biden’s special representative for North Korea, Sung Kim, arrived in South Korea on Saturday for talks over stalled nuclear diplomacy with the North.
Kim Jong Un had presided over a four-day plenary meeting of the ruling Workers’ Party’s Central Committee, which he summoned to discuss efforts to salvage a dismal economy, hurt by years of mismanagement and U.S.-led sanctions that were made worse by pandemic border closures.
As he closed the meetings on Friday, Kim “solemnly swore” on behalf of the Central Committee that the party “will surely break through head-on the difficulties lying in the way of the revolution,” the Korean Central News Agency reported.
Kim earlier ordered his government to prepare for both dialogue and confrontation with the United States, which has been urging the North to abandon its nuclear weapons ambitions and return to talks.
Kim has threatened to bolster his nuclear deterrent and says the fate of diplomacy and bilateral relations depends on whether Washington abandons what he calls hostile policies.
Kim opened the Central Committee plenary on Tuesday by warning of potential food shortages, urging officials to find ways to boost agricultural production because the situation “is now getting tense.” He said the country should brace for extended COVID-19 restrictions, suggesting it would extend border closures and other steps despite the stress on its economy.
The economic setbacks have left Kim with nothing to show for his ambitious summitry with former President Donald Trump, which derailed over disagreements in exchanging the lifting of sanctions with the North’s denuclearization steps.
U.S. officials have suggested President Joe Biden would adopt a middle ground policy between his predecessors — Trump’s direct dealings with Kim and Barack Obama’s “strategic patience.” But some experts say Washington won’t likely provide the North with meaningful sanctions relief unless it takes concrete denuclearization steps first.
During his stay in South Korea, Sung Kim will meet with South Korean senior diplomats and participate in a trilateral meeting that includes Japanese nuclear envoy Takehiro Funakoshi on Monday. His travel emphasizes the importance of three-way cooperation in working toward complete denuclearization of the Korean Peninsula, the U.S. State Department said.7 Electric Vehicle (EV) Stocks That Are Ready to Rebound
The electric vehicle (EV) sector was nearly as frothy as the “pandemic stocks” in 2020. It wasn’t that the EV sector was dormant during the Trump administration.
But, as the saying goes, elections have consequences. And Wall Street understands they can make money in any administration. And as a bet that Joe Biden would win the presidency, electric vehicle stocks soared.
For starters, the Biden administration has already said it will prioritize climate change like no administration ever has. And one way they are going to do that is to incentivize the production and purchase of electric vehicles.
And to take advantage of this shift towards electric vehicle stocks, many private companies raced to get in on the action. The preferred way for many of these companies to go public was via a Special Purpose Acquisition Company (SPAC). A SPAC is basically a shortcut to the traditional IPO process.
However, what goes up frequently goes down and since late February, EV stocks have been getting battered. But this is creating an opportunity because the electric vehicle is still supposed to see exceptional growth over the next five years.
To help you take advantage of this we’ve created this special presentation that includes seven stocks that appear to be ready to take the next leg up.
View the "7 Electric Vehicle (EV) Stocks That Are Ready to Rebound "