'Under no circumstances' will we stop building nukes

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"We will under no circumstances put the nukes and ballistic rockets on (the) negotiating table", Pyongyang's top diplomat told ASEAN delegates, among them US Secretary of State Rex Tillerson.

This year marks the 20th anniversary of the Asian financial crisis which sent shockwaves through the region and rattled currency and stock markets across the globe. In a joint statement at the end of a meeting of their foreign ministers in Manila, the three countries said new sanctions on North Korea should be strictly implemented.

Asked about whether the latest round of sanctions against Pyongyang will have the desired effect, given North Korea's race toward nuclear development and the time it takes for sanctions to kick in, Tillerson said that "when do these actually have a practical bite on their revenues. the more important element of that is just the message that this sends to North Korea of how unacceptable the entire global community finds what they're doing to be".

The foreign ministers exchanged views on a free trade agreement including the 13 nations, Australia, New Zealand and India, as well as infrastructure and maritime order in the region, a Japanese government official said.

The security conference in the Philippine capital was dominated by the rising threat posed by North Korea's rapid advances in nuclear and ballistic missile technology.

Although Russia voted for the sanctions, its United Nations ambassador, Vasily Nebenzya, told the Security Council that sanctions "cannot be a goal in itself" and "shall not be used for economic strangling" of North Korea, according to the Russian state news agency Tass.

US Secretary of State Rex Tillerson laid out a narrow path for North Korea to return to dialogue and ultimately see the latest round of sanctions lifted, stressing that Pyongyang must first stop testing its missile for "extended period" before any future negotiations will be considered.

"There is no bigger mistake than the United States believing that its land is safe across the ocean", a statement from the official North Korean state news agency declared. The two ministers agreed to work together to deal with North Korea.

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"ASEAN wants North Korea to know ASEAN is concerned, but also wants to engage North Korea", he said, adding he hoped "this dialogue will deescalate tension".

Kono replaced Fumio Kishida as Japan's foreign minister last Thursday in a Cabinet reshuffle.

The fresh set of penalties imposed on Kim's administration this past Saturday could subtract $1 billion from Pyongyang's coffers, the U.S. State Department estimated. Why the nuclear tests were excluded remains unclear, however.

After weeks of US frustration over China's reluctance to take action, Trump's strategy of relying on Beijing's help showed early signs of paying off.

"Owing to China's traditional economic ties with North Korea, it will mainly be China paying the price for implementing the resolution", the statement cited Wang as saying.

Tillerson is meeting with South Korean Foreign Minister Kang Kyung-wha in the Philippines on the sidelines of a regional summit.

One of the secondary sanctions efforts deals with jurisdictions that are non-compliant with United Nations resolutions, Stephan Haggard, visiting fellow at the Peterson Institute of International Economics, said in a Monday note. She says it was a "very, very good outcome". If you would like to discuss another topic, look for a relevant article.

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