The Yuan, the 6 Way Talks and some Good Timing

(I want that) Special delivery
Signed
Sealed
Delivered
In just the nick of time
--The Lox, et al

China revalues the yuan as the US requested, and now the six party talks with North Korea are going ahead. It's not a coincidence - China's concession on the yuan will mean a diplomatic concession on North Korea by the US.

The North Korean governments' policy is not to initiate any negotiations and they were insisting that the only way they would agree to new 6 way talks was if the US were to sign a non-agression pact.

It's done. Expect the North Koreans to be dismantled but holding aid and a pact from the US after this is all over.

Officials in Pyongyang are pushing for the U.S. to sign a non-aggression pact and establish diplomatic relations with North Korea. In addition, North Korea is also demanding the resumption of fuel supply for its electrical power stations, which was suspended in late 2002, and joint legal guarantees with the negotiating parties for its security.

Chalk up a win for NoKo.

The US has enough on its plate anyways, so it's not really a defeat, simply a deferral of concentrated action against the North.