If North Korea did deliberately torpedo the Cheonan in south korean waters then we might be looking at World War 3 in the making.
With strong political pressure and war-mongering citizens crying out for the revenge of the 46 dead sailors were to get a strong backing, Mr. Lee Myung-bak might just have to reinforce his strong stance against the North, even stronger.
Military action will be costly and of course deadly. Seoul is less than a 100km from the border and is easily reachable by any ICBM's. No, they dont even have to intercontinental ballistic, some modified missile will deliver the nuke that will annihilate Seoul and with that South Korea.
The global implication is that, the US is backing the South and China is an open supporter of the North. If the South do retaliate, and the north do the same. The US will be obliged to assists.
China in the spirit of marxism will be forced to help his fellow bethren wether he likes it or not or risk losing support from other communist states.
Is the US able to sustain wars in 3 fronts?
Most certainly not. Not with today's economics.
Will China risk losing money just to help out a outcast dictator?
Most certainly not. They're chinese. All they think about is money.
WW3 will only start because of shortage of water. And with economics in mind, I dont believe any country will go to war for the time being without an imminent threat. There's just too much money involved.
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