I think these guys have a lot of leverage these days-- the UN Security Council is never going to sponsor any 'serious' resolution, especially with the 2 most pro-North Korean supporters with veto power--China and Russia. In addition, the fact that they've convicted the 2 US reporters for "serious" crimes, the North Korean regime now has yet another bargaining chip against the United States. On top of all this, I believe that they know that an Obama administration is far less likely to take any sort of meaningful action.
To be fair, I'd have to say that I doubt a McCain administration would be effective either--though I think Kim Jong Il (or I guess now Kim Jong Un) would probably take a threat of action from McCain with more seriousness than from Obama.
This puts a lot of pressure on everyone involved-- South Korea's economic recovery is put at risk; Japan's stability is put at risk; Russia and China are trying to talk out of both sides of their mouths; and the US must also walk a fine line because of its political and economic interests in all the parties involved. Difficult situation all around...
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