Look to social psychology on the latest bombshell news on North Korea. Do not look to John Bolton, military drills or name-calling.
North Korea‘s peace offensive in January and the breakdown of talks in May offer a perfect example of how waves of social mood influence international politics. Kim Jong-un offered his olive branch to South Korea on January 1 this year after a strong two-year rally in global stock markets, which are excellent measures of social mood. But now that global stocks have corrected for four months, Kim and Trump have gotten cold feet.
“North Korea’s foreign relations have swung from cooperative to combative in synch with stocks for decades, and we expect that pattern to continue,” says Mark Galasiewski, chief Asia analyst at financial forecasting firm Elliott Wave International.
About Mark Galasiewski
Mark Galasiewski (gala-SHEV-ski) is chief strategist for Asia and Emerging Markets at Elliott Wave International. After joining the firm in 2005, Mark wrote essays for The Elliott Wave Theorist which correctly forecasted the global financial crisis. Since 2008, he has covered Asia and Emerging Markets for the monthly publications Global Market Perspective and The Elliott Wave Asian-Pacific Financial Forecast. He has appeared on major media outlets such as CNBC, Barron’s, Bloomberg TV Asia, China Central Television, CNBC TV-18, Bloomberg TV India, ET NOW, Press Trust India, Dow Jones Asia newswire and Minyanville. A graduate of Middlebury College in East Asian Studies, he is fluent in Japanese and conversant in Mandarin Chinese.
About Elliot Wave International
Elliott Wave International is the largest independent technical analysis firm in the world. We cover every major financial index in the world, around the clock, and many of our publications have won top awards in their categories. We do not take our lead from Federal Reserve Policy, news headlines, Presidential elections or the latest economic statistics. In fact we forecast the forces that produce those outcomes, so we — and you — can expect them to happen.