Kim’s powerful friends

Russia and China have sent high-profile delegations to Pyongyang [View in browser]( [Bloomberg]( As North Korea marks the 70th anniversary of the armistice that ended Korean War fighting on July 27, 1953, it’s once again Russia the regime must thank. Russia and China have sent high-profile delegations to Pyongyang to join in the festivities in a reminder of the role they played in helping North Korea seven decades ago, when Beijing sent soldiers to join the conflict while Moscow offered political and military support for Pyongyang. Key Reading: [Secret Deals With Russia Help Kim Jong Un Fund Nuclear Program]( [China, Russia Envoys Make First North Korea Visit Since Covid]( [North Korea Launches Cruise Missiles Toward Its Western Waters]( [North Korea’s New ICBM Raises Ability To Strike US With Nuke]( [North Korea Isn’t Talking About Soldier Who Bolted, US Says]( The celebrations come at a crucial time for leader Kim Jong Un as he seeks to ease up on pandemic border controls that slammed the brakes on his economy. He’s also looking for support from his powerful friends in Moscow and Beijing to fend off new sanctions as he increases the potency of his nuclear arms program designed to deliver strikes on the US and its allies. Kim has found fresh ways to fill his depleted coffers, often involving neighbors Russia and China. This money is enabling him to ignore incentives designed to bring him back to the negotiating table, and press ahead with building his atomic arsenal. Russia’s full-scale invasion of Ukraine may have opened a new stream of cash for North Korea, with the US accusing Pyongyang of providing some of its vast stores of munitions to help President Vladimir Putin’s war machine. Together with the reopening of trade links with China and other sources of income like cybercrime, the assistance from Russia is ensuring the economy remains stable enough to function, enabling Kim to continue defying the international community. The fact that the Kremlin’s top military officer, Defense Minister Sergei Shoigu, is leading the delegation has stoked speculation he may be talking more about weapons than reminiscing about the decades of their friendly relations. For Kim, that’s an encouraging sign that Moscow is just as eager to maintain strong ties. — [Jon Herskovitz]( Kim and his daughter inspect the site of a missile launch at Pyongyang International Airport. Photographer: Korean Central News Agency/Korea News Service/AP Photo [Listen to our Twitter Space discussion]( at 8am ET (2pm CET) today on what to expect from Putin’s summit with African leaders, as we look ahead to the BRICS summit next month in South Africa. And if you are enjoying this newsletter, sign up [here](. Global Headlines Locked in a tussle with China for global dominance, President Joe Biden’s administration is pouring subsidies into US manufacturing in a bid to create jobs at home while building a lead over Beijing in key technologies. [Read]( how Biden’s sweeping new industrial policy has unleashed a global contest that’s straining alliances, threatening budgets and channeling unprecedented amounts of public cash into private companies. - Norway’s generous tax incentives and subsidies have created the world’s most successful market for electric vehicles, but it’s now facing the challenge of [weaning]( its citizens off them. 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