The UNSC statement is more a testimony to Sino-US compromise arrived at after nearly a month and half of negotiations rather than being a “diplomatic victory” as has been hailed by North Korea.

The issue at stake is the US upholding and expanding its role as the key shaper of geopolitics in Northeast Asia, and China unwilling to be sidelined by the United States.

The Cheonan assault has revealed to South Korea that the threat from North Korea is still ominous and capable of delivering unexpected damage.

The one country that has not condemned North Korea’s role in the sinking of the Cheonan is China, which has its own strategic and economic compulsions to back North Korea.

The Cheonan incident came at a very inopportune time for North Korea, irrespective of the fact whether Pyongyang had any hand in it or not.

The delicately maintained peace in the Korean peninsula once again looks fragile in the wake of the war of words and exchange of artillery fire along the disputed western sea border in January 2010.

Indications are that the stalled six-party talks on the North Korean nuclear issue will resume in the coming months. While North Korea has let it be known that it is willing to return to the negotiating table, the United States showed its willingness to hold one-to-one talks with North Korea. This time, the North Korean capability/status of uranium enrichment programme would, among other things, dominate the negotiations.

The delicately maintained fragile peace in Northeast Asia received a severe jolt when North Korea conducted an underground nuclear test on May 25, 2009, followed by the test launch of four short-range missiles. Earlier on April 5, North Korea had launched a long-range rocket, which drew condemnation from the UN Security Council (UNSC) in the form of a strong presidential statement.