This is escalating more than people realize ...
I think Taiwan plays a factor, but it is a very collateral one, and purely political. I doubt Taiwan is much of a factor in anything the Kim Dynasty decides. Then again.....I am known to be wrong some times.
Despite a lot of claim to the contrary, the US is
always a pushover (to its own demise, as well as of its allies). Doesn't matter who's in the White House (much less Congress). So the US isn't likely to push Taiwan now, any more than they did Indian on nukes, despite Pakistan's complaints.
However, if this goes to the point that Japan and South Korea are engaged military in enough situations that it is causing considerable damage to their economies, the US
will push for a full UN resolution to oust the administration. China will be forced to concede and work with the US to do so. At that point, North Korea could be really stupid, or it could say it will capitulate. It will be very interesting what the Obama administration will do, especially if they don't think the DPRK has any credibility left.
Unlike most of my bleeding heart liberal friends, I
do respect Obama on his stances on Iran and North Korea (as well as Iraq as a mistake). Although he has the benefit of hindsight, he is
not about to be a "pushover" on this. Don't mistake him as a man who will do nothing. Even Clinton made bombing Iraq a regular action.
I really don't think people realize how quick this thing is escalating. It almost did in 1994, before Carter got in and created the (quite criticized now, even by Democrats, let alone Japan always did, but even China agreed was wrong), the bi-lateral agreement. It started again in 1999, but the US and South Korean forces were able to fend off North Korean attacks.
North Korea always does something stupid enough, and then they are put down. The question is how much they will retaliate. Sometimes its more threats and rhetoric. Sometimes it's more abductions and military actions. So far, it hasn't been enough, but they've never torn up portions of the 1953 agreement like they just did, not even back in 1999.