I think some of the bigger/more influential countries deserve their own separate threads (i.e. USA, China, Japan, Russia, India).
And perhaps as North Korea is kind of special and unique, we should keep that separate too.
Also, maybe I'm being biased, but I kind of like having a UK Watch thread. So please keep that one. A large percentage of our traffic and visitors are Brits, so I think it would make sense anyway.
But I'm okay with merging the dozens of smaller threads together into regional blocks. Perhaps – rather than merging them – we could simply close each thread, but the final post could leave a link to the brand new combined/regional thread. Otherwise, it could mess up the flow of discussions in those original threads (if people ever read them again).