The summit held in Hanoi today between President Kim Jong Un of North Korea and President Donald Trump of the of the US failed for the 2nd time. Almost everybody in the world have been looking forward to it. Two days before the Summit, all stock exchanges were active and positively waiting. But the moment the news broke-out that nothing happened, all indexes went down including the Philippines. In HK and China, 150 billionaires just became millionaires all of a sudden.
On a plus note however, the meeting resulted in a joyful exchanges between the 2 leaders who both acknowledged that the efforts and active measures for detente on the Korean peninsula, peace and complete denuclearization are of great significance in promoting mutual trust and understanding between the two countries. Although the US did not agree on the lifting of trade embargoes in exchange for denuclearization, the door for this possibility is now wide open.
We remain hopeful that as they shook hands, patience and wisdom will break the high wall of hostility and confrontation.