--- title: Peace Talks in the Korean Peninsula to Wall Street’s Roller Coaster: Let’s Break Down Everything You Need to Know This Week | TIME description: Time explains what you need to know about the latest peace talks in the Korean Peninsula, Money provides a primer on what's going on with the stock market, Sports Illustrated tackles "the process" that's shaped the Sixers and the NBA, and Fortune ana canonical: https://time.com/video/FxDd2Msu/ og:title: Peace Talks in the Korean Peninsula to Wall Street’s Roller Coaster: Let’s Break Down Everything You Need to Know This Week og:description: Time explains what you need to know about the latest peace talks in the Korean Peninsula, Money provides a primer on what's going on with the stock market, Sports Illustrated tackles "the process" that's shaped the Sixers and the NBA, and Fortune ana og:url: https://time.com/video/FxDd2Msu/ og:image: https://cdn.jwplayer.com/v2/media/FxDd2Msu/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Peace Talks in the Korean Peninsula to Wall Street’s Roller Coaster: Let’s Break Down Everything You Need to Know This Week twitter:description: Time explains what you need to know about the latest peace talks in the Korean Peninsula, Money provides a primer on what's going on with the stock market, Sports Illustrated tackles "the process" that's shaped the Sixers and the NBA, and Fortune ana twitter:image: https://cdn.jwplayer.com/v2/media/FxDd2Msu/poster.jpg?width=720 --- # Peace Talks in the Korean Peninsula to Wall Street’s Roller Coaster: Let’s Break Down Everything You Need to Know This Week > Sponsored content. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Peace Talks in the Korean Peninsula to Wall Street’s Roller Coaster: Let’s Break Down Everything You Need to Know This Week [Watch (HLS stream): Peace Talks in the Korean Peninsula to Wall Street’s Roller Coaster: Let’s Break Down Everything You Need to Know This Week](https://cdn.jwplayer.com/manifests/FxDd2Msu.m3u8) (11:52)  _Published 2018-05-02. Time explains what you need to know about the latest peace talks in the Korean Peninsula, Money provides a primer on what's going on with the stock market, Sports Illustrated tackles "the process" that's shaped the Sixers and the NBA, and Fortune ana_ --- Jul 27, 2023 11:53 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Wall Street Roller Coaster](/video/pTDL6c2w/) ### Wall Street Roller Coaster [A Brief History of Sport and Politics on the Korean Peninsula](/video/hdP2USpo/) ### A Brief History of Sport and Politics on the Korean Peninsula [The Decision to Send a U.S. Navy Fleet Toward the Korean Peninsula Has Made Seoul Nervous](/video/NYhQvceB/) ### The Decision to Send a U.S. Navy Fleet Toward the Korean Peninsula Has Made Seoul Nervous --- ## Transcript [ MUSIC ] Welcome to The Breakdown. Thank you so much for joining us. I'm your host, Neha Joy, and we're here with the top stories of the week from Time, Money, Fortune, and Sports Illustrated. This week we're tackling the peace process in Korea, what to know about T- mobile and Sprint's proposed merger, what's happening on Wall Street, and a hair raising process that's been a game changer for the Sixers and the NBA. Now, let's dive into the biggest story of this week, what you need to know about the latest peace talks in the Korean peninsula with Time. [ BLANK_AUDIO ] On April 27th in an unprecedented event between leaders of two nations still technically at war, Kim Jong Un became the first North Korean leader to cross the border into South Korea. Kim smiled, walking over the cease fire line. A line that was drawn after fighting for the Korean War, which ended in 1953, and the armistice agreement created a de- militarized zone to separate the countries. [ MUSIC ] Leaders of the two Koreas have only met twice since the peninsula was divided in 1948. [ MUSIC ] Communist North Korea was seperated from the Anti- Communist South, a product of Cold War tentions heralded by the Soviet Union and the United States at the time. And life today within the two countries could not be further apart. South Korea has the fourth largest economy in Asia and the 11th largest in the world, with Mega Cities like Seoul and cultural exports like K- Pop The country is a world leader. Meanwhile economic sanctions have taken a considerable toll on North Korea, where citizens live on about $ 1700 a year. Food shortages are the norm and yet the country still spends more than 20 % on its GDP on military. [ MUSIC ] Now the two have promised to sign a peace treaty this year, formally ending the Korean War, with North Korea pledging to denuclearize the Peninsula. Kim Jong- un even cracked brazen jokes at the meeting, saying he won't interrupt the South Korean leader's sleep with his early morning missile strikes anymore. This is a sharp departure from the cloud of nuclear weapon missile tests, and taunting messages from the United States and North Korea, that threatened the world for much of 2017. Rocket Man is on a suicide mission for himself, and for his regime. In fact just this past July North Korea tested an intercontinental ballistic missile, claiming to be powerful enough to reach US soil. Kim Jung Un called it a July 4th present to Yankees. [ SOUND ] I'm here with Time's Editor- at- Large, Karl Vick. Karl, thanks so much for joining us. Happy to be here. All right. Now, I'm going to gauge your insight on North Korea. There have been talks of a peace process in the past, but nothing has stuck. So tell us a little bit about that and what's different this time around for North Korea. There've been peace talks about getting nuclear arms out of North Korea about as long as North Korea's been trying to get them. President Clinton took a stab at it. W. Bush, Obama, and now President Trump is takihg his turn. These developments we've seen in recent weeks have been kind of profoundly symbolic and may be significant. But it's really not gonna matter until we have results. There've been agreements before. Four times North Korea has said it's agreed to denuclearize and all it's done is advance its systems in the meantime. Now North Korea considers themselves a nuclear armed state, so what essentially is their end game and can they really denuclearize? It's a nuclear armed state. That's in the consitution of 2012, they actually put it in. It's really a heavy, a significant part of their national identity and certainly of their defense posture. Which is based on the Korean War in the early 50s, when the North invaded the South, the United States entered the war, and it went on for three years. And in that time, North Korea was decimated. I mean, 80 % of the buildings in North Korea were destroyed by US bombs. That's a huge communal memory there, and it's something that the Kim family, this dynasty that's been running the country for all this time, has played on, and it's their justification for having nuclear weapons. As a deterrent to keep the Americans. Now, as they go into these talks with the US and maybe a summit with Trump, supposedly the bargain is gonna be that they'll agree to really get rid of the nuclear weapons if the US promises not to invade or destroy them. But the whole idea was that you couldn't trust the Americans. [ LAUGH ] So how will that And then in the mean time, you've got President Trump's talking about throwing out the Iran Deal, so if he gives the impression that the U. S. welches on nuclear arms deals, what message is that sending in the run up to any summit. Of course. So we'll see how this all pans out if and when a peace treaty does, in fact, take effect, but Carl, thanks so much for joining us. Thank you. [ NOISE ] [ MUSIC ] What in the world is happening on Wall Street? Just when you thought all was clear for the market, the Dow Jones average sank more than 420 points on April 24th, Stocks haven't been on this much of a roller coaster ride in years, and while taking risks is the key to success in investing, experts urge caution and warn we could see a down turn. Ray Dalio, investor and founder of Bridgewater Associates, the world's largest hedge fund, thinks the US economy is currently in the pre- bubble stage that could go into a bubble stage next. And like Bill Gates and Warren Buffet before him, Dalio sees a recession on the horizon. At a recent appearance at the Harvard Kennedy School's Institute of Politics, Dalio said this. The probability of a recession prior to the next presidential election would be Relatively high. What would I say? I don't know, 70 % or something like that. So what does a potential market crash mean for your wallet? The past two stock market crashes in 2000 and 2007 have preceded a recession. What's more, a stock market crash directly affects your 401 ( k ) plan because most people's retirement savings are in index funds filled with stocks. With the typical 401K coming in at $ 25, 000, but don't get spooked. Remember the best long term investment strategy is always to ride out the market. Hey it's been working for Warren Buffet. [ SOUND ] [ MUSIC ] The Sixers are on the NBA playoffs and while the Philly team looks like they went from obscurity to contender seemingly overnight, there was a bit of a process involved. In fact, for three years from 2013- 2016, the Sixers were considered the worst Team in the NBA, they literally broke records for consecutive game blast and won the title for the second worst NBA team of all time, winning only 10 of 82 games their third season. But this dismal stat were actually intentional, thanks to then general manager Sam Hinkie The Stanford MBA grad was hired for his analytical acumen. And the Sixers owners figured Hinkie could money ball the team into greatness. What the team's owners did not account for was Hinkie strategically tanking the team for years, allowing the Sixers to get the most draft picks. This gave them a leg up with a highly competitive roster. That's why Hinkie traded away the Sixers' best players at the time and even drafted injured or overseas athletes so the Sixers could have the most top 20 draft picks. This strategy became infamously known as the process. and while it cost Hinkie his job in 2016, the process became personified in 7- foot- tall Joel Embiid, a top 2014 draft pick for the 6ers despite a broken foot. Embiid has emerged as one of the NBA's most exciting players and credits his career as well as his Instagram handle to the process. [ UNKNOWN ] methodology breathed new life into Sixers fans, with famous devotees like Will Smith, Meek Mill, and Kevin Hart unable to contain themselves. And [ UNKNOWN ] as well as the process have left an undeniable impact on the NBA. Sports Illustrated Editor [ UNKNOWN ] Prince breaks it down. There's this sort of race to the bottom that people call the tank race now. And the Sixers had a big part in that. Teams like the Grizzlies and the Suns, they're barely trying to win at this point. A lot of that is being done so that they can, you know, land the next Ben Simmons, land the next Joel Embiid. The NBA has changed the system whereas in years past, the team with the worst record had the best odds and had the best chances of landing the number one team. This was a pretty fool- proof plan, but now that changed a little bit, and Sam Hinkie and the process This is a direct reaction of what they ushered in. You have to get the actual players in order for the process to become a thing. You have Joel Embiid who instantly became the best big men in the NBA. That sort of. Puts your team on a schedule that's way far ahead of what anyone expected. I think before the season Vegas they were expected to win somewhere around 42 games. This year they blew that out of the water, they won 50 games, and now they're basically on track many expect for them to be in the conference finals, some people are even expecting them to maybe beat out the Warriors or the Rockets in the NBA finals. [ MUSIC ] Whether or not the process will end up turning the Sixers into a championship team remains to be seen, but the Sixers are undoubtedly in fighting shape [ MUSIC ] [ MUSIC ] Can you hear me now? On Sunday, T- mobile and Sprint announced a merger agreement that would combine the nation's two smallest wireless carriers into one meganetwork. That could rival current market leaders Verizon and AT & T. The proposed merger is worth 26. 5 Billion dollars, but it has a ways to go before being approved. For starters, antitrust Trust regulators may decide to block the deal, which would reduce the number of national carriers from four to three. And even if it goes through, the conglomerates face the complicated tasks of actually combining the network services. Customer support, billing, and more. Now, does anything change right away? Sprint customers actually get the immediate benefit of being able to connect via T- Mobile's network, as they move around the country. It's a four year agreement that takes effect immediately, and will stay in place even if the merger is blocked. That means 20 million phones used by Sprint loyalists can now work on both networks. But what does it mean if the deal goes through? The companies say their merger will mean a much faster 5g network for users. So what's the bottom line? The carriers are promising they won't raise prices, with Sprint CEO Marcelo Claure saying the merger will lower their network costs and allow even [ INAUDIBLE ] Paper service. As far as special offers go, the devil is always in the details. T- Mobile offers it's customers free Netflix, and Sprint offers free Hulu. No word yet on what happens to those deals if the merge goes through. And that's the breakdown. You're officially caught up on the week's biggest stories. Until next week, I'm Nehja Joy, and thanks for joining us. 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